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Two Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.00% Interest Rate﻿ 8.81% Maturity Date 6/1/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services CVR Management, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 1/4/2027 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Heights Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.08% Maturity Date 8/25/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Artifact Bidco, Inc. 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Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/30/2025 2024-12-31 0001976336 Investments—non-controlled/non-affiliated The Hiller Companies, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 06/22/2026 2025-09-30 0001976336 ck0001976336:FoodProductsMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Verde Purchaser, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.00% Interest Rate 7.98% Maturity Date 11/30/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Patriot Growth Insurance Services, LLC Commitment Type Revolver Commitment Expiration Date 10/16/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Dwyer Instruments, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/20/2029 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated 1364720 B.C. LTD. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/03/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Spartan Bidco PTY LTD Commitment Type Revolver Commitment Expiration Date 01/24/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Truck-Lite Co., LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/17/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Empyrean Solutions, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.06% Maturity Date 11/26/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Saturn Borrower Inc Asset Type First Lien Revolver Reference Rate and Spread S + 6.00% Interest Rate 10.13% Maturity Date 11/13/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Ares Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 11/18/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Proampac PG Borrower LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate 7.99% Maturity Date 6/16/2028 2025-09-30 0001976336 ck0001976336:S2024M6DividendsMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Movati Athletic (Group) Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/30/2026 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated CDL Parent, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/7/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Trunk Acquisition, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/20/2026 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember ck0001976336:TransactionPriceMember srt:MinimumMember ck0001976336:RecentTransactionMember 2025-09-30 0001976336 ck0001976336:NonControlledNonAffiliatedInvestmentsMember 2024-12-31 0001976336 ck0001976336:LalGroupHoldingsLLCOneMember us-gaap:RestrictedStockUnitsRSUMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Discovery Purchaser Corporation Asset Type First Lien Term Loan Reference Rate and Spread S + 3.75% Interest Rate 7.73% Maturity Date 10/4/2029 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:TransactionPriceMember us-gaap:EquityMember ck0001976336:RecentTransactionMember srt:MaximumMember 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Bridges Consumer Healthcare Intermediate LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/31/2027 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Hercules Borrower LLC Commitment Type Revolver Commitment Expiration Date 12/15/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies BCPE Empire Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate 7.38% Maturity Date 12/11/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Ampirical Solutions, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 9/30/2032 2025-09-30 0001976336 ck0001976336:DiversifiedConsumerServicesMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Ardonagh Midco 3 PLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate 9.00% Maturity Date 2/17/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Propio LS, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.00% Interest Rate 8.83% Maturity Date 7/17/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging CFs Brands, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 10.33% Maturity Date 10/2/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Patriot Growth Insurance Services, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 10/16/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Flow Control Solutions, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 3/29/2029 2025-09-30 0001976336 ck0001976336:LifeSciencesToolsAndServicesMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Ruppert Landscape, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/30/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated The Chartis Group, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/17/2026 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated EPFS Buyer, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/31/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors BradyPlus Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.00 % Interest Rate Floor 1.00% Interest Rate 10.31% Maturity Date 10/31/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Hasa Acquisition, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 1/10/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated HP RSS Buyer, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/12/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies WRE Holding Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.25% Maturity Date 7/2/2031 2024-12-31 0001976336 ck0001976336:ElectronicEquipmentInstrumentsAndComponentsMember 2024-12-31 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:FMBuyerLLCMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Artifact Bidco, Inc. Assets Type First Lien Revolver Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 7/26/2030 One 2025-09-30 0001976336 ck0001976336:HealthCareTechnologyMember us-gaap:EquitySecuritiesMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Truck-Lite Co., LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 02/13/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Riser Interco LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.31% Maturity Date 10/31/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Artifact Bidco, Inc. Assets Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 7/28/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Fourth Enterprises, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 3/21/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Concord Global Acquisition, LLC, Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.06% Maturity Date 12/29/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Zinc Buyer Corporation Commitment Type Revolver Commitment Expiration Date 7/24/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services AQ Carver Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.58% Maturity Date 8/2/2028 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated FR Vision Holdings Inc Commitment Type Delayed Draw Term Loan Commitment Expiration Date 1/20/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Routeware, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.56% Maturity Date 9/18/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Zelis Cost Management Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 01/17/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated IG Investments Holdings, LLC Commitment Type Revolver Commitment Expiration Date 9/22/2028 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Foreside Financial Group, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/13/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Southpaw Ap Buyer, LLC Commitment Type Revolver Commitment Expiration Date 3/2/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Cloud Software Group, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate Floor 0.00% Interest Rate 8.08% Maturity Date 9/30/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Crown Laundry, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.58% Maturity Date 3/8/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Cerity Partners Equity Holding LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 7/28/2028 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated AQ Carver Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 8/2/2028 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Hyphen Solutions, LLC Commitment Type Revolver Commitment Expiration Date 8/6/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Containers and Packaging TCB Holdings I LLC Asset Type Preferred Interest Rate 14.00% PIK 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Vessco Midco Holdings, LLC Commitment Type Revolver Commitment Expiration Date 07/24/2031 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Hyphen Solutions, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/6/2027 2025-09-30 0001976336 currency:GBP 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Monarch Landscape Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 10/2/2028 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:ScorpionHoldingsLLCTwoMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Edgeco Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate Floor 0.00% Interest Rate﻿ 8.81% Maturity Date 6/1/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies The Hiller Companies, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/20/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Vensure Employer Services, Inc. Assets Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 9/27/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Vital Care Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 7/30/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Arax MidCo, LLC Asset Type First Lien Term Loan Reference Rate and Spread 5.00% Interest Rate 9.13% Maturity Date 4/11/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Vessco Midco Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/24/2026 2024-12-31 0001976336 2025-06-30 0001976336 Investments – Non-controlled/non-affiliated Empower Payments Investor, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/28/2027 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:LalGroupHoldingsLLCTwoMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Health Buyer LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/15/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Ampirical Solutions, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 9/30/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated DCert Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 10/16/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Technology Hardware, Storage and Peripherals Victors Purchaser, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.06% Maturity Date 8/15/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services SpecialtyCare, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 12/18/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Bulab Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 7/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors DFS Holding Company, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 7.00% Interest Rate 11.13% Maturity Date 1/31/2029 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:TCBHoldingsILLCMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Industrial Conglomerates FCG Acquisitions, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate 7.38% Maturity Date 3/31/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Fourth Enterprises, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 3/21/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated THG Acquisition, LLC Commitment Type Revolver Commitment Expiration Date 10/31/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Pavion Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.75% Interest Rate 10.13% (Incl. 2.25% PIK) Maturity Date 10/30/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated ONS MSO, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/13/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services AB Centers Acquisition Corporation Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 7/2/2031 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Ryan, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 11/14/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Valicor PPC Intermediate II LLC Commitment Type Revolver Commitment Expiration Date 1/24/2028 2024-12-31 0001976336 ck0001976336:APCFFundingSPVLLCMember 2025-07-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Quick Quack Car Wash Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 6/10/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Monotype Imaging Holdings Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 02/28/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Media Klick Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate 8.81% Maturity Date 3/31/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services ABC Legal Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 8/13/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services OMNIA Partners, LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 6.48% Maturity Date 7/25/2030 2025-09-30 0001976336 us-gaap:ShortTermInvestmentsMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Kriv Acquisition Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/31/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Enverus Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 12/24/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Sugar Ppc Buyer LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 07/10/2026 2025-09-30 0001976336 ck0001976336:CommercialServicesAndSuppliesMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 ck0001976336:CapitalMarketsMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Pathstone Family Office LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 9.23% Maturity Date 5/15/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Governmentjobs.Com, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 0.00% Interest Rate Floor 0.00% Interest Rate 4.33% Maturity Date 12/1/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Carr, Riggs & Ingram Capital, L.L.C. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate 9.06% Maturity Date 11/18/2031 2024-12-31 0001976336 ck0001976336:CommonClassDMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Orsini Pharmaceutical Services, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 5/22/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bridges Consumer Healthcare Intermediate LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 12/22/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Pro Mach Group, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.88% Maturity Date 8/31/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Oeconnection LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 4/22/2031 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services American Residential Services LLC Asset Type First Lien Revolver Reference Rate and Spread S + 2.50% Interest Rate 6.48% Maturity Date 1/31/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Foreside Financial Group, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 9/30/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Phantom Purchaser, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 9/19/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Technology Hardware, Storage and Peripherals Ubeo, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.71% Maturity Date 4/3/2026 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Higher Logic, LLC Commitment Type Revolver Commitment Expiration Date 1/10/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Noble Midco 3 Limited Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 6/10/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated WPP Bullet Buyer, LLC Commitment Type Revolver Commitment Expiration Date 12/07/2029 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated HSI Halo Acquisition Inc. Commitment Type Revolver Commitment Expiration Date 6/28/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Analytic Partners, LP Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 4/4/2030 One 2024-12-31 0001976336 ck0001976336:AutomobileComponentsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 us-gaap:SecuredDebtMember ck0001976336:GasUtilitiesMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Soleo Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 02/02/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Essential Services Holding Corporation Commitment Type Revolver Commitment Expiration Date 6/17/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services The Chartis Group, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.81% Maturity Date 9/17/2031 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated AMBA Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 7/30/2027 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:ClarityTechnologiesHoldingsLPMember 2025-01-01 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:EquityMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services MRO Corporation, Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 6/9/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services 1364720 B.C. LTD. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.00% Interest Rate 8.81% Maturity Date 9/9/2028 2024-12-31 0001976336 us-gaap:UnsecuredDebtMember us-gaap:FairValueInputsLevel1Member 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Simplicity Financial Marketing Group Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/31/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Bellwether Buyer, L.L.C. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 4/15/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated USRP Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/31/2029 Investments—non-controlled/non-affiliated USRP Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/28/2026 2024-12-31 0001976336 us-gaap:ContainerAndPackagingSectorMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Arax MidCo, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread 5.00% Interest Rate 8.98% Maturity Date 4/11/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Harvey Tool Company, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/28/2026 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Goldeneye Parent, LLC Commitment Type Revolver Commitment Expiration Date 3/31/2032 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember us-gaap:UnsecuredDebtMember ck0001976336:MarketYieldAnalysisMember srt:MaximumMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Patriot Growth Insurance Services, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.46% Maturity Date 10/16/2028 2024-12-31 0001976336 2024-01-01 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Orsini Pharmaceutical Services, LLC Commitment Type Revolver Commitment Expiration Date 05/22/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Clydesdale Acquisition Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate 7.38% Maturity Date 4/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Navex Topco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.83% Maturity Date 11/8/2030 2024-12-31 0001976336 2024-07-01 2024-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies TIDI Legacy Products, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 12/19/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Net Health Acquisition Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 7/7/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Innovetive Petcare, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 6/30/2028 One 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Onit, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 01/28/2027 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Essential Services Holding Corporation Commitment Type Revolver Commitment Expiration Date 6/17/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Healthcare Providers and Services ACG Parent Holdings, LP Asset Type Preferred 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance World Insurance Associates, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 4/3/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Iris Buyer LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 10/2/2030 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Edgeco Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 6/1/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Genesys Cloud Services Holdings I, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 6.63% Maturity Date 1/30/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Orsini Pharmaceutical Services, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 5/22/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Anticimex Global AB Asset Type First Lien Term Loan Reference Rate and Spread S + 3.40% Interest Rate 7.38% Maturity Date 11/16/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Patriot Growth Insurance Services, LLC Commitment Type Revolver Commitment Expiration Date 10/16/2028piration Date 10/16/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services ACI Group Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 10.23% (Incl. 3.25% PIK) Maturity Date 8/2/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Air Freight and Logistics Kenco PPC Buyer LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.60% Maturity Date 11/15/2029 2025-09-30 0001976336 ck0001976336:DiversifiedConsumerServicesMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 us-gaap:FoodAndBeverageSectorMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Saturn Borrower Inc Commitment Type Revolver Commitment Expiration Date 11/13/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Plaskolite PPC Intermediate II LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.00% Interest Rate 12.13% (Incl. 4.00% PIK) Maturity Date 5/9/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products Sugar PPC Buyer LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.58% Maturity Date 10/2/2030 2024-12-31 0001976336 ck0001976336:O2024M1DividendsMember ck0001976336:SpecialDistributionPerShareMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Belmont Instrument, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate Floor 1.00% Interest Rate 10.56% Maturity Date 8/19/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Packaging Coordinators Midco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 1/22/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Bridges Consumer Healthcare Intermediate LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/21/2026 2024-12-31 0001976336 ck0001976336:TradingCompaniesAndDistributorsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 ck0001976336:AerospaceAndDefenseMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies FL Hawk Intermediate Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 2/22/2030 2025-09-30 0001976336 ck0001976336:TextilesApparelAndLuxuryGoodsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Monotype Imaging Holdings Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 2/28/2031 2025-09-30 0001976336 ck0001976336:EnergyEquipmentAndServicesMember 2024-12-31 0001976336 ck0001976336:CommonClassIMember 2025-01-01 2025-09-30 0001976336 ck0001976336:HealthcareEquipmentAndSuppliesMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated FR Vision Holdings Inc Commitment Type Delayed Draw Term Loan Commitment Expiration Date 1/20/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Eyesouth Eye Care Holdco, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.83% Maturity Date 10/5/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services The Chartis Group, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 9/17/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services CFGI Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.83% Maturity Date 11/2/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance AMBA Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.33% Maturity Date 7/30/2027 2025-09-30 0001976336 ck0001976336:WirelessTelecommunicationServicesMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 ck0001976336:TransportationInfrastructureMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Noble Midco 3 Limited Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 06/11/2031 2024-12-31 0001976336 currency:GBP country:US 2024-12-31 0001976336 ck0001976336:ItServicesMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services MHE Intermediate Holdings, LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate 10.13% Maturity Date 7/21/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Wealth Enhancement Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 10/2/2028 One 2025-09-30 0001976336 Investments—non-controlled/non-affiliated 123Dentist Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/10/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Wisdom Purchaser, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 7/24/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Service Logic Acquisition, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate 7.84% Maturity Date 10/30/2025 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Wildcat Topco, Inc. Commitment Type Revolver Commitment Expiration Date 11/17/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Real Estate Management and Development Sako and Partners Lower Holdings LLC. Asset Type First Lien Revolver Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 10.31% Maturity Date 9/15/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Industrial Conglomerates Harvey Tool Company, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.83% Maturity Date 10/26/2027 2024-12-31 0001976336 ck0001976336:CommonClassIMember 2025-11-13 0001976336 Investments—non-controlled/non-affiliated Rimkus Consulting Group, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 04/01/2026 2025-09-30 0001976336 ck0001976336:InterestFloorPointSevenFiveMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Empyrean Solutions, LLC Commitment Type Revolver Commitment Expiration Date 11/26/2031 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Bulab Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 7/01/2032 2025-09-30 0001976336 us-gaap:UnsecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products MDC Interior Acquisition Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate﻿ 9.31% Maturity Date 4/26/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Life Sciences Tools & Services LSCS Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 3/4/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Telecommunication Services Guardian US Holdco LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.50% Interest Rate 7.48% Maturity Date 1/31/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Trading Companies and Distributors Painters Supply and Equipment Co. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.58% Maturity Date 8/10/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Hotels, Restaurants and Leisure Movati Athletic (Group) Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 7.63% Maturity Date 5/29/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Specialty Retail Shock Doctor Intermediate, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.06% Maturity Date 11/20/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated The Ultimus Group Midco, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/8/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Acentra Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.50% Interest Rate 9.81% Maturity Date 12/17/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Psc Parent, Inc. Commitment Type Revolver Commitment Expiration Date 4/3/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products Walter Surface Technologies Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate﻿ 9.66% Maturity Date 3/31/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated HT Intermediary III, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/13/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Southpaw Ap Buyer, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 05/01/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Concord Global Acquisition, LLC, Commitment Type Revolver Commitment Expiration Date 12/26/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Aprio Advisory Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 8/1/2031 2025-09-30 0001976336 ck0001976336:WirelessTelecommunicationServicesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Validity, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 4/12/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Cerity Partners Equity Holding LLC Commitment Type Revolver Commitment Expiration Date 7/28/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Spirit RR Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.58% Maturity Date 9/13/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Onyx-Fire Protection Services Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread C + 4.50% Interest Rate 7.06% Maturity Date 7/31/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Oakbridge Insurance Agency LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.88% Maturity Date 11/1/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Technology Hardware, Storage and Peripherals Victors Purchaser, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate 9.06% Maturity Date 8/15/2031 2024-12-31 0001976336 us-gaap:SecuredDebtMember ck0001976336:TechnologyHardwareStorageAndPeripheralsMember 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember ck0001976336:TransactionPriceMember us-gaap:EquityMember ck0001976336:RecentTransactionMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Life Sciences Tools & Services Kwol Acquisition, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.00% Maturity Date 12/12/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services DCert Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate Floor 0.00% Interest Rate 8.08% Maturity Date 10/16/2026 2024-12-31 0001976336 ck0001976336:CommonClassSMember 2025-07-01 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Cerity Partners Equity Holding LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 1/21/2027 2025-09-30 0001976336 ck0001976336:PharmaceuticalsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Eclipse Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate 9.08% Maturity Date 9/5/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Specialty Retail Shock Doctor Intermediate, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.73% Maturity Date 11/20/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Bracket Intermediate Holding Corp. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 2/7/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Life Sciences Tools & Services Kwol Acquisition, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/12/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Zone Climate Services, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 10.33% Maturity Date 3/9/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Onyx-Fire Protection Services Inc. Asset Type First Lien Term Loan Reference Rate and Spread C + 4.50% Interest Rate 7.06% Maturity Date 7/31/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Patriot Growth Insurance Services, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.46% Maturity Date 10/16/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Safety Borrower Holdings LLC Asset Type First Lien Revolver Reference Rate and Spread P + 4.25% Interest Rate Floor 0.00% Interest Rate 11.75% Maturity Date 9/1/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Grant Thornton Advisors LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 2.75% Interest Rate Floor 0.00% Interest Rate 7.06% Maturity Date 6/2/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Onyx-Fire Protection Services Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread C + 4.50% Interest Rate Floor 0.00% Interest Rate﻿ 7.75% Maturity Date 7/31/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Phantom Purchaser, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 9/19/2031 2025-09-30 0001976336 us-gaap:FoodAndBeverageSectorMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Innovetive Petcare, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.46% Maturity Date 6/30/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electrical Equipment TPC Engineering Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate 9.93% Maturity Date 2/16/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services CRCI Longhorn Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 8/27/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services Integrated Power Services Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.99% Maturity Date 11/22/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Wireless Telecommunication Services CCI Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.00% Interest Rate Floor 0.75% Interest Rate 8.33% Maturity Date 12/17/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Onyx-Fire Protection Services Inc. Asset Type First Lien Revolver Reference Rate and Spread C + 4.50% Interest Rate Floor 0.75% Interest Rate﻿ 7.75% Maturity Date 7/31/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Sugar Ppc Buyer LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/10/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Essential Services Holding Corporation Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/17/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Noble Midco 3 Limited Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 6/10/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Onsite Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.75% Interest Rate 11.04% PIK Maturity Date 12/28/2027 One 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Psc Parent, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 04/03/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Net Health Acquisition Corp. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 7/3/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated ONS MSO, LLC Commitment Type Revolver Commitment Expiration Date 7/8/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components OAC Holdings I Corp Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 3/30/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Zinc Buyer Corporation Commitment Type Revolver Commitment Expiration Date 07/24/2031 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Crown Laundry, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/29/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated YLG Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/23/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services AB Centers Acquisition Corporation Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 7/2/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Ext Acquisitions, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate﻿ 9.46% Maturity Date 6/26/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Heights Buyer, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.83% Maturity Date 8/25/2028 2025-09-30 0001976336 us-gaap:UnsecuredDebtMember ck0001976336:DiversifiedConsumerServicesMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Vessco Midco Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 7/24/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Lightbeam Bidco Inc Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/7/2025 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Wisdom Purchaser, LLC Commitment Type Revolver Commitment Expiration Date 07/24/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Blackbird Purchaser, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/19/2025 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Victors Purchaser, LLC Commitment Type Revolver Commitment Expiration Date 08/15/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Mclarens Midco Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 12/19/2027 One 2025-09-30 0001976336 ck0001976336:CommonClassSMember 2025-01-01 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:UnsecuredDebtMember 2025-07-01 2025-09-30 0001976336 us-gaap:CommonStockMember 2024-06-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Ridge Trail US Bidco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.35% Maturity Date 9/30/2031 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Bridges Consumer Healthcare Intermediate LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/21/2026 2025-09-30 0001976336 ck0001976336:CommonClassDMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Storable, Inc. Commitment Type Revolver Commitment Expiration Date 4/16/2026 2024-12-31 0001976336 ck0001976336:APCFMasterfundLLCMember 2024-11-05 2024-11-05 0001976336 Investments - non-controlled/non-affiliated Secured Debt Oil, Gas and Consumable Fuels Edpo, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.83% Maturity Date 12/8/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Process Insights Acquisition, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate Floor 1.00% Interest Rate 10.56% Maturity Date 7/18/2029 2024-12-31 0001976336 ck0001976336:DistributorsMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Invictus Buyer, LLC Commitment Type Revolver Commitment Expiration Date 6/3/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated DT1 Midco Corp Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/30/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Wildcat Topco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 11/17/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Hercules Borrower LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/15/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products BCPE North Star US Holdco 2, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate 7.88% Maturity Date 3/10/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated ImageFirst Holdings, LLC Commitment Type Revolver Commitment Expiration Date 4/27/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Alta Buyer, LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/21/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services US Fitness Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 9/4/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Iris Buyer LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate Floor 1.00% Interest Rate 10.56% Maturity Date 10/2/2030 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated ClearCapital Holdings, LLC Commitment Type Revolver Commitment Expiration Date 6/30/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products 80/20, LLC Asset Type First Lien Term Loan Reference Rate and Spread 5.00% Interest Rate 8.98% Maturity Date 3/1/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Raven Acquisition Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 11/19/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Zone Climate Services, Inc. Commitment Type Revolver Commitment Expiration Date 03/09/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Amerilife Holdings LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.25% Maturity Date 8/31/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electrical Equipment Infinite Bidco LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate 10.23% Maturity Date 3/2/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Blackhawk Industrial Distribution, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 9/17/2026 Three 2025-09-30 0001976336 Investments—non-controlled/non-affiliated BradyPlus Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/1/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Eagan Parent, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 9/8/2032 2025-09-30 0001976336 ck0001976336:SoftwareMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated KPA Parent Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 3/12/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Trimech Acquisition Corp. Asset Type First Lien Revolver Reference Rate and Spread S + 0.00% Interest Rate Floor 0.00% Interest Rate 4.31% Maturity Date 3/10/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated The Chartis Group, LLC Commitment Type Revolver Commitment Expiration Date 9/17/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Simplicity Financial Marketing Group Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.25% Maturity Date 12/31/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated YA Intermediate Holdings II, LLC Commitment Type Revolver Commitment Expiration Date 10/01/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated North Star Acquisitionco, LLC Commitment Type Revolver Commitment Expiration Date 5/3/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Rimkus Consulting Group, Inc. Assets Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 4/1/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Cloud Software Group, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.25% Interest Rate 7.23% Maturity Date 9/28/2029 2025-09-30 0001976336 us-gaap:RealEstateSectorMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging St Athena Global LLC Asset Type First Lien Revolver Reference Rate and Spread S+ 5.25% Interest Rate Floor 0.00% Interest Rate 9.56% Maturity Date 6/26/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction Materials Red Fox CD Acquisition Corporation Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.00% Interest Rate 9.98% Maturity Date 3/4/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Analytic Partners, LP Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 4/4/2030 2025-09-30 0001976336 us-gaap:SecuredDebtMember 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:EquityMethodInvestmentsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Analytic Partners, LP Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.08% Maturity Date 4/4/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Perforce Software, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate 9.08% Maturity Date 3/21/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Invictus Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 6/3/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Trilon Group, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 5/29/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services Integrated Power Services Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.95% Maturity Date 11/22/2028 2024-12-31 0001976336 ck0001976336:HotelsRestaurantsAndLeisureMember 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Dwyer Instruments, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/21/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Zone Climate Services, Inc. Commitment Type Revolver Commitment Expiration Date 3/9/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Simplicity Financial Marketing Group Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.25% Maturity Date 12/31/2031 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member 2025-07-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Unlimited Technology Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 3/12/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated HSI Halo Acquisition Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/28/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services TurningPoint Healthcare Solutions, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.18% Maturity Date 7/14/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Health Care Technology Unlimited Technology Holdings, LLC Asset Type Preferred 2025-09-30 0001976336 ck0001976336:ConstructionMaterialsMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Unsecured Debt Investments Diversified Consumer Services Apex Service Partners Intermediate 2, LLC Asset Type Subordinated Unsecured Delayed Draw Term Loan Interest Rate Floor 0.00% Interest Rate 14.25% PIK Maturity Date 4/23/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Essential Services Holding Corporation Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 6/17/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Personal Care Products Apothecary Products, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.10% Maturity Date 7/27/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Kipu Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate Floor 1.00% Interest Rate 8.56% Maturity Date 1/27/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Heights Buyer, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/25/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated USHV Management, LLC Commitment Type Revolver Commitment Expiration Date 09/08/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Thermostat Purchaser III, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate Floor 0.75% Interest Rate 8.56% Maturity Date 8/31/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Nasuni Corporation Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.85% Maturity Date 9/10/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Eos Fitness Opco Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.56% Maturity Date 1/5/2028 One 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Frazier & Deeter Advisory, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 5/02/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Blades Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.23% Maturity Date 3/28/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies AWP Group Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 12/23/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Hercules Borrower LLC One Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate﻿ 9.91% Maturity Date 12/14/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Edgeco Buyer, Inc. Three Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate﻿ 8.81% Maturity Date 6/1/2028 2024-12-31 0001976336 ck0001976336:BaseDistributionPerShareMember ck0001976336:O2024Q1DividendsMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Truck-Lite Co., LLC Commitment Type Revolver Commitment Expiration Date 02/13/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Simplicity Financial Marketing Group Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/31/2031itment Type Revolver Commitment Expiration Date 12/31/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services STCH Acquisition Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 6.25% Interest Rate Floor 1.00% Interest Rate 10.66% Maturity Date 10/30/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Zone Climate Services, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.00% Interest Rate 10.13% Maturity Date 3/9/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software KPA Parent Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.18% Maturity Date 7/19/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services DT1 Midco Corp Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.31% Maturity Date 12/30/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Quality Automotive Services, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 01/30/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Edgeco Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 6/1/2028 Two 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Media W2O Holdings, Inc Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.00% Maturity Date 6/12/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated DeLorean Purchaser, Inc. Commitment Type Revolver Commitment Expiration Date 12/16/2031 2024-12-31 0001976336 ck0001976336:CommonClassSMember 2025-11-13 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electrical Equipment Power Grid Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 12/2/2030 2025-09-30 0001976336 ck0001976336:MorganStanleyFacilityMember 2025-07-01 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated ABC Legal Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/14/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Raven Acquisition Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/19/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Cerity Partners Equity Holding LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.06% Maturity Date 7/28/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated ONS MSO, LLC Commitment Type Revolver Commitment Expiration Date 07/07/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies BVI Medical, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate Floor 0.00% Interest Rate 8.08% Maturity Date 8/28/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services United Digestive MSO Parent, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.73% Maturity Date 3/30/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery CD&R Hydra Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.00% Interest Rate Floor 0.00% Interest Rate 8.43% Maturity Date 3/25/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals DCG Acquisition Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/13/2031 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated GSV Holding, LLC Commitment Type Revolver Commitment Expiration Date 10/18/2030 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:MonarchBuyerIncMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Phantom Purchaser, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 9/19/2031 2024-12-31 0001976336 ck0001976336:APCFFundingSPVLLCMember 2024-11-05 2024-11-05 0001976336 Investments – Non-controlled/non-affiliated Bamboo US BidCo LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/20/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Transportation Infrastructure Psc Parent, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.58% Maturity Date 4/3/2031 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Athenahealth Group Inc. Commitment Type Revolver Commitment Expiration Date 2/15/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services USHV Management, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 9/8/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services HSI Halo Acquisition Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 6/28/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies HP RSS Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/11/2029 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Continental Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.50% Maturity Date 4/2/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Trackforce Acquireco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 6/23/2028 2025-09-30 0001976336 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Quick Quack Car Wash Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 06/12/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering FR Vision Holdings Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 1/20/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Onyx-Fire Protection Services Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/31/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bridges Consumer Healthcare Intermediate LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.56% Maturity Date 12/20/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Alera Group, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.58% Maturity Date 10/02/2028 2024-12-31 0001976336 ck0001976336:TotalInvestmentsFairValueMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Blackhawk Industrial Distribution, Inc. Commitment Type Revolver Commitment Expiration Date 9/17/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging CFs Brands, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 10/2/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Fresh Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 1/24/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Mastery Acquisition Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/7/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Process Equipment, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.75% Maturity Date 9/6/2026 2024-12-31 0001976336 ck0001976336:InterestFloorPointFiveZeroMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Transportation Infrastructure VRS Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/19/2032 2025-09-30 0001976336 ck0001976336:APCFMasterfundLLCMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Routeware, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/19/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Arrow Management Acquisition, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.06% Maturity Date 10/14/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Acentra Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 12/17/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering CLS Management Services, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.31% Maturity Date 3/27/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Ruppert Landscape, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 04/30/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Athenahealth Group Inc. Commitment Type Revolver Commitment Expiration Date 2/16/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Integrated Power Services Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/7/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Monotype Imaging Holdings Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 2/28/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Ground Transportation AMS Parent, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.89% Maturity Date 10/25/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Media W2O Holdings, Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.00% Maturity Date 6/12/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated VS Buyer, LLC Commitment Type Revolver Commitment Expiration Date 4/12/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Nasuni Corporation Commitment Type Revolver Commitment Expiration Date 09/10/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Spirit RR Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.16% Maturity Date 9/13/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Cerity Partners Equity Holding LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.56% Maturity Date 7/28/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Proampac PG Borrower LLC Asset Type First Lien Revolver Reference Rate and Spread S + 2.75% Interest Rate Floor 0.00% Interest Rate 7.08% Maturity Date 6/16/2028 2024-12-31 0001976336 us-gaap:FairValueInputsLevel2Member us-gaap:EquityMethodInvestmentsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Allied Benefit Systems Intermediate LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.58% Maturity Date 10/31/2030 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Inhabitiq Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 1/11/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Transportation Infrastructure Psc Parent, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 4/3/2031 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Continental Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.50% Maturity Date 4/2/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Riser Interco LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 10/31/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated THG Acquisition, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 10/30/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Aerospace and Defense GSP Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate﻿ 9.96% Maturity Date 11/6/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services VPP Intermediate Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.18% Maturity Date 12/1/2027 2024-12-31 0001976336 ck0001976336:S2024M2DividendsMember 2025-01-01 2025-09-30 0001976336 ck0001976336:ElectronicEquipmentInstrumentsAndComponentsMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Pathstone Family Office LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 06/22/2026 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Flint Opco, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/1/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Artifact Bidco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate Floor 0.50% Interest Rate 8.83% Maturity Date 7/26/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Trading Companies and Distributors SurfacePrep Buyer, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 2/4/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services Integrated Power Services Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.46% Maturity Date 9/8/2025 2024-12-31 0001976336 ck0001976336:LocalMember currency:EUR 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Vital Care Buyer, LLC Commitment Type Revolver Commitment Expiration Date 07/30/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Plaskolite PPC Intermediate II LLC Asset Type First Lien Revolver Reference Rate and Spread S + 7.00% Interest Rate 11.13% Maturity Date 2/7/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Rohrer Corporation Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.50% Maturity Date 3/15/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Soleo Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 1/30/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services VPP Intermediate Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.68% Maturity Date 12/1/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated GS Acquisitionco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/26/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Trackforce Acquireco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.06% Maturity Date 6/23/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Surfaceprep Buyer, LLC Commitment Type Revolver Commitment Expiration Date 02/04/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Hotels, Restaurants and Leisure Southpaw Ap Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate Floor 0.00% Interest Rate 8.81% Maturity Date 3/2/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products 80/20, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate﻿ 9.56% Maturity Date 3/1/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Ruppert Landscape, LLC Assets Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/3/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Rimkus Consulting Group, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/1/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Cardinal Parent, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 11/12/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services ONS MSO, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.06% Maturity Date 7/8/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Passageways, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.46% Maturity Date 7/21/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Cloud Software Group, Inc. Commitment Type Revolver Commitment Expiration Date 9/28/2029 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:NSIParentLPMember 2025-01-01 2025-09-30 0001976336 us-gaap:FairValueInputsLevel1Member 2025-09-30 0001976336 Investments—non-controlled/non-affiliated AQA Acquisition Holding, Inc. Commitment Type Revolver Commitment Expiration Date 3/3/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Zinc Buyer Corporation Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/24/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services US Fitness Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 9/4/2030 2025-09-30 0001976336 ck0001976336:TotalShortTermInvestmentsMember 2025-09-30 0001976336 us-gaap:UnsecuredDebtMember ck0001976336:DiversifiedConsumerServicesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Textiles, Apparel and Luxury Goods Gloves Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.00% Interest Rate 8.13% Maturity Date 5/21/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Aerospace and Defense TransDigm Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 2.25% Interest Rate 6.23% Maturity Date 3/22/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Zinc Buyer Corporation Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/24/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies The Hiller Companies, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate﻿ 9.33% Maturity Date 6/20/2030 2024-12-31 0001976336 us-gaap:CommonStockMember 2025-06-30 0001976336 Investments – Non-controlled/non-affiliated Harvey Tool Company, LLC Commitment Type Revolver Commitment Expiration Date 8/06/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Cub Financing Intermediate, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/28/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services EPFS Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/31/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Monotype Imaging Holdings Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 2/28/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Wireless Telecommunication Services Alert Media, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 0.00% Interest Rate 10.23% (Incl. 6.25% PIK) Maturity Date 4/12/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Truck-Lite Co., LLC Commitment Type Revolver Commitment Expiration Date 2/13/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance THG Acquisition, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 10/31/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated US Fitness Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 09/04/2026 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember srt:WeightedAverageMember us-gaap:UnsecuredDebtMember ck0001976336:MarketYieldAnalysisMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Premise Health Holding Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 3/3/2031 2024-12-31 0001976336 us-gaap:FairValueInputsLevel2Member us-gaap:UnsecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services MRO Corporation, Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 6/9/2032 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember us-gaap:MarketApproachValuationTechniqueMember ck0001976336:MarketQuotationMember srt:MaximumMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Kaseya Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.25% Interest Rate 7.23% Maturity Date 3/20/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology F&M Buyer LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 3/18/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Frazier & Deeter Advisory, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/2/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated IMO Investor Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 5/11/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software 365 Retail Markets, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate 8.81% Maturity Date 12/22/2028 One 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Navex Topco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 11/09/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Zinc Buyer Corporation Commitment Type Delayed Draw Term Loan Commitment Expiration Date 07/24/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Wildcat Topco, Inc. Commitment Type Revolver Commitment Expiration Date 11/17/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Propio LS, LLC Commitment Type Revolver Commitment Expiration Date 7/17/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Cop Hometown Acquisitions, Inc. (fka Cop Airco Acquisitions, Inc.) Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 7/16/2027 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Bulab Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread E + 4.75% Interest Rate 6.68% Maturity Date 7/1/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Flow Control Solutions, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/28/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Noble Midco 3 Limited Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 6/24/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services AQ Carver Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.33% Maturity Date 8/2/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Liquid Environmental Solutions Corporation Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate﻿ 9.41% Maturity Date 5/31/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Charkit Chemical Company, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.88% Interest Rate 9.11% Maturity Date 12/29/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services USHV Management, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.38% Interest Rate Floor 1.00% Interest Rate 10.78% Maturity Date 12/23/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Heights Buyer, LLC Commitment Type Revolver Commitment Expiration Date 8/25/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Wildcat Topco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/16/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Industrial Conglomerates Harvey Tool Company, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 6.93% Maturity Date 8/6/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging St Athena Global LLC Asset Type First Lien Term Loan Reference Rate and Spread SON + 5.25% Interest Rate 9.22% Maturity Date 6/26/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Cloud Software Group, Inc. Commitment Type Revolver Commitment Expiration Date 12/15/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Gas Utilities Edpo, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 12/10/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Cardiology Management Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate Floor 1.00% Interest Rate 10.56% Maturity Date 1/31/2029 2024-12-31 0001976336 ck0001976336:MachineryMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Valet Waste Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.08% Maturity Date 05/01/2029 2024-12-31 0001976336 ck0001976336:BaseDistributionPerShareMember ck0001976336:S2024M1DividendsMember 2025-01-01 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember us-gaap:UnsecuredDebtMember ck0001976336:MarketYieldAnalysisMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Trimech Acquisition Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 3/10/2028 One 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Edgeco Buyer, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/20/2026 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated HeartLand PPC Buyer, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/13/2025 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software KPA Parent Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 3/12/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Montana Buyer Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 7/22/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies TIDI Legacy Products, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.58% Maturity Date 12/19/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services KENE Acquisition, Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 2/7/2031 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:MoneyMarketFundsMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Edgeco Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.00% Interest Rate﻿ 8.81% Maturity Date 6/1/2026 2024-12-31 0001976336 ck0001976336:ConstructionMaterialsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Ryan, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate Floor 0.00% Interest Rate 8.83% Maturity Date 11/14/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Continental Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 4/2/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Safety Borrower Holdings LLC Commitment Type Revolver Commitment Expiration Date 09/01/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging CFs Brands, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 10/2/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Hotels, Restaurants and Leisure BJH Holdings III Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 8/19/2027 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember srt:MinimumMember us-gaap:UnsecuredDebtMember ck0001976336:MarketYieldAnalysisMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Wealth Enhancement Group, LLC Commitment Type Revolver Commitment Expiration Date 10/02/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Accession Risk Management, Inc Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/16/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Hotels, Restaurants and Leisure BJH Holdings III Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.31% Maturity Date 8/19/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Analytic Partners, LP Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 4/4/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services VPP Intermediate Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.18% Maturity Date 12/1/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Kaseya Inc. Commitment Type Revolver Commitment Expiration Date 3/20/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services AAH Topco., LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.23% Maturity Date 12/22/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Smile Doctors LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.90% Interest Rate 9.85% Maturity Date 12/23/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Litera Bidco LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 5/1/2028 2025-09-30 0001976336 ck0001976336:OilGasAndConsumableFuelsMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products MDC Interior Acquisition Inc Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate﻿ 9.56% Maturity Date 4/26/2030 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:ComparableCompanyAnalysisMember us-gaap:EquityMember srt:MinimumMember us-gaap:MeasurementInputEbitdaMultipleMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Telecommunication Services Coral-US Co-Borrower LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate 7.23% Maturity Date 1/31/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments IT Services DT1 Midco Corp Asset Type Common 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services VPP Intermediate Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.88% Maturity Date 12/1/2027 Two 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated ImageFirst Holdings, LLC Commitment Type Revolver Commitment Expiration Date 3/12/2030 2025-09-30 0001976336 ck0001976336:FinancialServicesMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services CVR Management, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.18% Maturity Date 1/4/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Marina Acquisition, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.31% Maturity Date 7/1/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Banker's Toolbox, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.81% Maturity Date 7/27/2027 2024-12-31 0001976336 us-gaap:AdditionalPaidInCapitalMember 2025-06-30 0001976336 Investments—non-controlled/non-affiliated HighTower Holding, LLC Commitment Type Revolver Commitment Expiration Date 10/21/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services The Chartis Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.81% Maturity Date 9/17/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated YLG Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/23/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Allied Benefit Systems Intermediate LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.58% Maturity Date 10/31/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Eagan Parent, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 9/8/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services ABC Legal Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 8/13/2032 2025-09-30 0001976336 ck0001976336:TradingCompaniesAndDistributorsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Nelipak Holding Company Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.83% Maturity Date 3/26/2031 2024-12-31 0001976336 ck0001976336:APCFMasterfundLLCMember 2025-07-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Kriv Acquisition Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/31/2031 2025-09-30 0001976336 ck0001976336:DerivativeContractsMember 2024-12-31 0001976336 us-gaap:FairValueInputsLevel1Member 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Majco LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate﻿ 8.96% Maturity Date 12/4/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Air Freight and Logistics Lightbeam Bidco Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate﻿ 9.31% Maturity Date 5/4/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Pathstone Family Office LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.33% Maturity Date 5/15/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Central Parent LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate 7.23% Maturity Date 07/6/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Caerus US 1 Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 5/25/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Edpo, LLC Commitment Type Revolver Commitment Expiration Date 12/8/2026 2024-12-31 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:GlovesBuyerIncMember 2025-01-01 2025-09-30 0001976336 ck0001976336:SoftwareMember 2025-09-30 0001976336 us-gaap:ConstructionSectorMember 2025-09-30 0001976336 ck0001976336:LifeSciencesToolsAndServicesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance World Insurance Associates, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 10.31% Maturity Date 3/4/2028 2024-12-31 0001976336 ck0001976336:NonControlledNonAffiliatedInvestmentsMember 2024-07-01 2024-09-30 0001976336 Investments – Non-controlled/non-affiliated AAH Topco., LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/01/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Empower Payments Investor, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.58% Maturity Date 3/12/2031 2024-12-31 0001976336 ck0001976336:MorganStanleyFacilityMember 2025-01-01 2025-09-30 0001976336 ck0001976336:MorganStanleyFacilityMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Oakbridge Insurance Agency LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 06/21/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Oeconnection LLC Asset Type First Lien Term Loan Reference Rate and Spread First Lien Revolver S + 5.25% Interest Rate 9.38% Maturity Date 4/22/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology HT Intermediary III, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.08% Maturity Date 11/12/2030 2024-12-31 0001976336 us-gaap:ChemicalsSectorMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Carr, Riggs & Ingram Capital, L.L.C. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/18/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Aurora Plastics, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate﻿ 9.18% Maturity Date 8/10/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Ridge Trail US Bidco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/31/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Mei Buyer LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.33% Maturity Date 6/29/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Eos Fitness Opco Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/25/2026 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated CFs Brands, LLC Commitment Type Revolver Commitment Expiration Date 10/2/2029 2025-09-30 0001976336 ck0001976336:PersonalCareProductsMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Boulder Scientific Company, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate﻿ 9.21% Maturity Date 12/31/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated CVP Holdco, Inc. Commitment Type Revolver Commitment Expiration Date 6/28/2030 2025-09-30 0001976336 us-gaap:SecuredDebtMember ck0001976336:HealthcareEquipmentAndSuppliesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Bluecat Networks (USA) Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.98% (Incl. 1.00% PIK) Maturity Date 8/8/2028 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Applied Technical Services, LLC Commitment Type Revolver Commitment Expiration Date 4/8/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Trilon Group, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 10/16/2025 2024-12-31 0001976336 currency:EUR 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electrical Equipment Power Grid Holdings, Inc. LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 12/2/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated CFs Brands, LLC Commitment Type Revolver Commitment Expiration Date 10/2/2029 2024-12-31 0001976336 us-gaap:FinancialServiceMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Vital Care Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 7/30/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Cold Chain Technologies, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.06% Maturity Date 7/2/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services The Chartis Group, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 9/17/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Crown Laundry, LLC One Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.58% Maturity Date 3/8/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Trimech Acquisition Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 3/10/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Trading Companies and Distributors SurfacePrep Buyer, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 2/4/2030 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Service Logic Acquisition, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.00% Interest Rate Floor 0.00% Interest Rate﻿ 8.33% Maturity Date 10/30/2025 2024-12-31 0001976336 ck0001976336:BaseDistributionPerShareMember ck0001976336:S2024M6DividendsMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Mei Buyer LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 6/29/2029 2025-09-30 0001976336 ck0001976336:DiversifiedConsumerServicesMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Lido Advisors, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 5/10/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Telecommunication Services Virgin Media Bristol LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.18% Interest Rate Floor 0.00% Interest Rate 7.53% Maturity Date 3/31/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Sako and Partners Lower Holdings LLC. Commitment Type Revolver Commitment Expiration Date 9/15/2028 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Bamboo US BidCo LLC Commitment Type Revolver Commitment Expiration Date 10/1/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Heights Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.16% Maturity Date 8/25/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Team Acquisition Corporation Commitment Type Revolver Commitment Expiration Date 11/21/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products MDC Interior Acquisition Inc Asset Type First Lien Revolver Reference Rate and Spread 5.00% Interest Rate 8.98% Maturity Date 4/26/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Catalis Intermediate, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 08/04/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Edgeco Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.00% Interest Rate﻿ 8.81% Maturity Date 6/1/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Ring Container Technologies Group, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 6.48% Maturity Date 9/15/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Heights Buyer, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/26/2025 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Resonetics, LLC Commitment Type Revolver Commitment Expiration Date 06/18/2029 2025-09-30 0001976336 ck0001976336:CommonClassIMember us-gaap:SubsequentEventMember 2025-10-01 0001976336 Investments—non-controlled/non-affiliated CRCI Longhorn Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 8/27/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies HeartLand PPC Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate﻿ 9.56% Maturity Date 12/12/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Component Hardware Group, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 7/1/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Grant Thornton Advisors LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate Floor 0.00% Interest Rate 7.06% Maturity Date 6/2/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Asurion, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate Floor 0.00% Interest Rate 7.70% Maturity Date 12/23/2026 2024-12-31 0001976336 ck0001976336:ItServicesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Healthcare Providers and Services ACG Parent Holdings, LP Asset Type Common 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Enverus Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/22/2025 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Aerospace and Defense GSP Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 10.63% (Incl. 0.75% PIK) Maturity Date 11/6/2026 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bamboo US BidCo LLC Asset Type First Lien Term Loan Reference Rate and Spread E + 5.25% Interest Rate 7.28% Maturity Date 9/30/2030 2025-09-30 0001976336 currency:CAD 2024-01-01 2024-12-31 0001976336 ck0001976336:AutoComponentsMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Routeware, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 9/18/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Trading Companies and Distributors Kele Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate 8.83% Maturity Date 2/21/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Boulder Scientific Company, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 12/31/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Heights Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.16% Maturity Date 8/25/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies HeartLand PPC Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 12/12/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance AQ Sunshine, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 7/24/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments IT Services OMERS Apollo Investment Holdings, LLC Asset Type Preferred 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Lubricant Engineers Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate﻿ 10.08% Maturity Date 9/1/2029 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Ensemble RCM, LLC Commitment Type Revolver Commitment Expiration Date 6/27/2028 2025-09-30 0001976336 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Simplicity Financial Marketing Group Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/31/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated THG Acquisition, LLC Commitment Type Revolver Commitment Expiration Date 10/31/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Ascensus Group Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 8/2/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components JHCC Holdings LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/9/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Marco Technologies, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 11/24/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors BC Group Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 12/21/2026 2024-12-31 0001976336 ck0001976336:AdviserMember 2024-07-01 2024-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Imagine 360 LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 9/30/2028 2024-12-31 0001976336 ck0001976336:ChemicalsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Patriot Growth Insurance Services, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 10/16/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Integrated Power Services Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/7/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software DT Intermediate Holdco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 2/24/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Pathstone Family Office LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.23% Maturity Date 5/15/2029 2025-09-30 0001976336 ck0001976336:ProfessionalServicesMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Learfield Communications, LLC Commitment Type Revolver Commitment Expiration Date 12/31/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Trading Companies and Distributors Surfaceprep Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 2/4/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Household Products Wu Holdco, Inc Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 4/19/2032 2025-09-30 0001976336 ck0001976336:S2024M2DividendsMember ck0001976336:SpecialDistributionPerShareMember 2025-01-01 2025-09-30 0001976336 country:GB 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Crown Laundry, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 5/28/2031 2025-09-30 0001976336 country:US 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products Sugar Ppc Buyer LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 10/2/2031 2025-09-30 0001976336 ck0001976336:ConstructionEngineeringMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Aprio Advisory Group, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 8/1/2031 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Eclipse Buyer, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/7/2026 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember 2025-06-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Quality Automotive Services, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/16/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Propio LS, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.75% Maturity Date 7/17/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components JHCC Holdings LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate﻿ 9.56% Maturity Date 9/9/2027 2024-12-31 0001976336 ck0001976336:CommonClassIMember 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Concord Global Acquisition, LLC, Commitment Type Revolver Commitment Expiration Date 12/29/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services University Support Services LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.88% Maturity Date 2/10/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Zinc Buyer Corporation Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 7/24/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Frazier & Deeter Advisory, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 5/03/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance AMBA Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 7/30/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services WCG Intermediate Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 2/25/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Specialized Dental Holdings II, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 11/1/2027 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Emburse, Inc. Commitment Type Revolver Commitment Expiration Date 5/28/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Transportation Infrastructure VRS Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/19/2032 2025-09-30 0001976336 ck0001976336:CommonClassIMember 2025-07-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Renaissance Holding Corp Asset Type First Lien Term Loan Reference Rate and Spread S + 4.00% Interest Rate Floor 0.50% Interest Rate 8.33% Maturity Date 4/5/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Household Products Wu Holdco, Inc Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 4/19/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Hercules Borrower LLC Asset Type First Lien Revolver Reference Rate and Spread S + 6.25% Interest Rate Floor 1.00% Interest Rate﻿ 10.66% Maturity Date 12/14/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Household Durables Stanton Carpet Intermediate Holdings II, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.05% Interest Rate Floor 1.00% Interest Rate 9.46% Maturity Date 10/1/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Noble Midco 3 Limited Commitment Type Delayed Draw Term Loan Commitment Expiration Date 06/11/2031Loan Commitment Expiration Date 06/12/2027 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:ScorpionHoldingsLLCMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Blackhawk Industrial Distribution, Inc Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.71% Maturity Date 9/17/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services PDI TA Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 2/3/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Hydraulic Technologies USA LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 6/3/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Specialized Dental Holdings II, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.08% Maturity Date 11/1/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated CFGI Holdings, LLC Commitment Type Revolver Commitment Expiration Date 11/2/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Project Accelerate Parent LLC Commitment Type Revolver Commitment Expiration Date 02/24/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Gas Utilities Edpo, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 12/8/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Higher Logic, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 1/10/2029 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Applied Technical Services, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/8/2026 2025-09-30 0001976336 us-gaap:UnsecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies HeartLand PPC Buyer, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate﻿ 9.56% Maturity Date 12/12/2029 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Alert Media, Inc. Commitment Type Revolver Commitment Expiration Date 4/12/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology IMO Investor Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.85% Maturity Date 5/11/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Vertex Service Partners, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate 9.98% Maturity Date 11/8/2030 2025-09-30 0001976336 us-gaap:HealthcareSectorMember 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember ck0001976336:TransactionPriceMember ck0001976336:RecentTransactionMember srt:MaximumMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Lightbeam Bidco Inc Commitment Type Revolver Commitment Expiration Date 5/4/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Spirit RR Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread First Lien Revolver S + 4.50% Interest Rate 8.58% Maturity Date 9/13/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Valet Waste Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 03/08/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Enverus Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.83% Maturity Date 12/24/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Wildcat Topco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/16/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Vessco Midco Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 7/24/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology IMO Investor Holdings, Inc. One Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 5/11/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services USRP Holdings, Inc. Assets Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 12/31/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Hotels, Restaurants and Leisure Movati Athletic (Group) Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread C + 5.25% Interest Rate Floor 1.00% Interest Rate 8.82% Maturity Date 5/29/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Lubricant Engineers Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/1/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Psc Parent, Inc. Commitment Type Revolver Commitment Expiration Date 04/03/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Edgeco Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 6/1/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services CRCI Longhorn Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 8/27/2031 2025-09-30 0001976336 ck0001976336:SpecialDistributionPerShareMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Quick Quack Car Wash Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 6/10/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services YA Intermediate Holdings II, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 2024-12-31 0001976336 ck0001976336:OilGasAndConsumableFuelsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Propio LS, LLC Commitment Type Revolver Commitment Expiration Date 05/10/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Zelis Cost Management Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 1/17/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Osaic Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 7/30/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors BradyPlus Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 10/31/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Onsite Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 6.75% Interest Rate 11.04% PIK Maturity Date 12/28/2025 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services USRP Holdings, Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 12/31/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Packaging Coordinators Midco, Inc. Commitment Type Revolver Commitment Expiration Date 8/31/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Artifact Bidco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.50% Interest Rate 8.81% Maturity Date 7/28/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Dwyer Instruments, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 7/23/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Puma Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 3/29/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services DMC Holdco, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 7/13/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Textiles, Apparel and Luxury Goods Varsity Brands, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.75% Interest Rate Floor 0.00% Interest Rate 8.06% Maturity Date 8/26/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Disa Holdings Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 9/9/2028 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated EPFS Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 7/31/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Flow Control Solutions, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 3/30/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Ground Penetrating Radar Systems, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.25% Interest Rate Floor 1.00% Interest Rate 11.75% Maturity Date 4/2/2031 2024-12-31 0001976336 ck0001976336:MachineryMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Routeware, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 09/19/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Enverus Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/24/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Minotaur Acquisition, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 6/03/2030 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated CPC/Cirtec Holdings, Inc Commitment Type Revolver Commitment Expiration Date 10/31/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Rocket Bidco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.00% Interest Rate﻿ 10.08% Maturity Date 11/1/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Cadence, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.46% Maturity Date 5/21/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Simplicity Financial Marketing Group Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/31/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Health Care Technology F&M Buyer LLC Asset Type Preferred 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Carr, Riggs & Ingram Capital, L.L.C. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate 9.06% Maturity Date 11/18/2031 2024-12-31 0001976336 ck0001976336:ElectricalEquipmentMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 ck0001976336:S2024M4DividendsMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Onit, Inc. Commitment Type Revolver Commitment Expiration Date 01/27/2032Revolver Commitment Expiration Date 1/27/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated BC Group Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/21/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Carr, Riggs & Ingram Capital, L.L.C. Asset Type First Lien Revolver Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 11/18/2031 2025-09-30 0001976336 us-gaap:AdditionalPaidInCapitalMember 2024-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Hercules Borrower LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/15/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Storable, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 2.75% Interest Rate Floor 0.00% Interest Rate 7.08% Maturity Date 4/16/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Mclarens Midco Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 12/19/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Pareto Health Intermediate Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 6/1/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Acentra Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 12/17/2029 2025-09-30 0001976336 us-gaap:RetainedEarningsMember 2025-07-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Technology Hardware, Storage and Peripherals Victors Purchaser, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate 9.06% Maturity Date 8/15/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated US Fitness Holdings, LLC Commitment Type Revolver Commitment Expiration Date 9/4/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated USRP Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 08/28/2026 2025-09-30 0001976336 ck0001976336:TextilesApparelAndLuxuryGoodsMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Ares Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate﻿ 9.31% Maturity Date 11/18/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Eyesouth Eye Care Holdco, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.73% Maturity Date 10/5/2029 2025-09-30 0001976336 ck0001976336:CommonClassDMember 2025-07-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Service Logic Acquisition, Inc. Commitment Type Revolver Commitment Expiration Date 4/30/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Phantom Purchaser, Inc. Commitment Type Revolver Commitment Expiration Date 9/19/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies CoolSys, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.99% Maturity Date 8/11/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery RFI Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.58% Maturity Date 8/5/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Phoenix 1 Buyer Corporation Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 11/20/2030 2024-12-31 0001976336 us-gaap:FairValueInputsLevel2Member us-gaap:EquityMethodInvestmentsMember 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services IvyRehab Intermediate II, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.08% Maturity Date 4/23/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Lummus Technology Holdings V LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 6.63% Maturity Date 12/31/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Trading Companies and Distributors Surfaceprep Buyer, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 2/4/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Tersera Therapeutics, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.73% Maturity Date 4/4/2029 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember ck0001976336:MarketYieldDiscountRatesMember srt:WeightedAverageMember ck0001976336:MarketYieldAnalysisMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Seahawk Bidco, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/19/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Eagan Parent, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 9/8/2032 2025-09-30 0001976336 ck0001976336:AmerichemIncMember us-gaap:RestrictedStockUnitsRSUMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated St Athena Global LLC Commitment Type Revolver Commitment Expiration Date 6/26/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Hotels, Restaurants and Leisure Movati Athletic (Group) Inc. Asset Type First Lien Term Loan Reference Rate and Spread C + 4.75% Interest Rate Floor 0.00% Interest Rate 8.32% Maturity Date 5/29/2030 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services USRP Holdings, Inc. Assets Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 12/31/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies CPC/Cirtec Holdings, Inc Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 10/31/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bamboo US BidCo LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 9/30/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Aspen Medical Products, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 6/10/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services BigTime Software, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate 10.23% Maturity Date 6/30/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Invictus Buyer, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/3/2031 2025-09-30 0001976336 ck0001976336:CapitalMarketsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Saturn Borrower Inc Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.00% Interest Rate 9.98% Maturity Date 11/13/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Phoenix 1 Buyer Corp Commitment Type Revolver Commitment Expiration Date 11/20/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services 123Dentist Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread C + 5.00% Interest Rate 7.56% Maturity Date 8/10/2029 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Imagine 360 LLC Commitment Type Revolver Commitment Expiration Date 9/30/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Thermostat Purchaser III, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 8/31/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Dwyer Instruments, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 7/23/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Hyphen Solutions, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 8/6/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Pathstone Family Office LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.43% Maturity Date 5/15/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services DCA Investment Holding LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.41% Interest Rate Floor 0.75% Interest Rate 10.71% Maturity Date 4/3/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services HSI Halo Acquisition Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 6/30/2031 2024-12-31 0001976336 us-gaap:SecuredDebtMember us-gaap:FairValueInputsLevel2Member 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Swoop Intermediate III, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 4/12/2032 2025-09-30 0001976336 us-gaap:SecuredDebtMember ck0001976336:RealEstateManagementAndDevelopmentMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software DS Admiral Bidco, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate 7.73% Maturity Date 6/26/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services YA Intermediate Holdings II, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 10/1/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated BVI Medical, Inc. Commitment Type Revolver Commitment Expiration Date 8/28/2025 2024-12-31 0001976336 ck0001976336:S2024M1DividendsMember ck0001976336:SpecialDistributionPerShareMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Onit, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 1/27/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated HighTower Holding, LLC Commitment Type Revolver Commitment Expiration Date 2/1/2030 2025-09-30 0001976336 ck0001976336:DiversifiedTelecommunicationServicesMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services KENE Acquisition, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.58% Maturity Date 2/8/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Safety Borrower Holdings LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.70% Maturity Date 9/1/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products Sigma Holdco B.V. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate Floor 0.00% Interest Rate 8.74% Maturity Date 1/3/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Spartan Bidco PTY LTD Asset Type First Lien Term Loan Reference Rate and Spread S + 0.75% Interest Rate Floor 0.00% Interest Rate 5.21% PIK Maturity Date 1/24/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Cold Chain Technologies, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate 9.73% Maturity Date 7/2/2026 2025-09-30 0001976336 us-gaap:CommercialAndIndustrialSectorMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Riser Interco LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/5/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Diversified Consumer Services Seahawk Bidco, LLC Asset Type LP Units 2024-12-31 0001976336 ck0001976336:HotelsRestaurantsAndLeisureMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Keng Acquisition, Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 8/1/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Textiles, Apparel and Luxury Goods MTI Group Acquisition Company Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 10.43% (Incl. 4.50% PIK) Maturity Date 3/31/2025 2024-12-31 0001976336 ck0001976336:S2024M6DividendsMember ck0001976336:SpecialDistributionPerShareMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Vamos Bidco, Inc Commitment Type Delayed Draw Term Loan Commitment Expiration Date 01/30/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Smile Doctors LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.90% Interest Rate Floor 0.75% Interest Rate 10.31% Maturity Date 12/23/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Denali Buyerco LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate﻿ 9.71% Maturity Date 9/15/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Kriv Acquisition Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.50% Interest Rate Floor 1.00% Interest Rate 10.83% Maturity Date 7/6/2029 2024-12-31 0001976336 us-gaap:CommonStockMember 2025-07-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Trident TPI Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.75% Interest Rate 7.73% Maturity Date 9/15/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction Materials Arrow Tru-Line Holding, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.63% Interest Rate Floor 1.00% Interest Rate 10.08% Maturity Date 9/20/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software 365 Retail Markets, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate 8.81% Maturity Date 12/22/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Bluecat Networks (USA) Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.31% (Incl. 1.00% PIK) Maturity Date 8/8/2028 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Flow Control Solutions, Inc. Commitment Type Revolver Commitment Expiration Date 3/29/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Life Sciences Tools & Services Sotera Health Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 6.63% Maturity Date 5/30/2031 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember ck0001976336:TransactionPriceMember us-gaap:EquityMember ck0001976336:RecentTransactionMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Rohrer Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.10% Maturity Date 3/15/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Puma Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 3/29/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Victory Buyer LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate 7.99% Maturity Date 11/19/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies WRE Holding Corp. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.25% Maturity Date 7/2/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated CVP Holdco, Inc. Commitment Type Revolver Commitment Expiration Date 6/28/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Merlin Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 12/14/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Eclipse Buyer, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/7/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Trunk Acquisition, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.00% Interest Rate 10.13% Maturity Date 2/19/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated The Ultimus Group Midco, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 01/01/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services US Fitness Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 9/4/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Prism Parent Co. Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/19/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Trading Companies and Distributors Surfaceprep Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 2/4/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology HT Intermediary III, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 11/12/2030 2025-09-30 0001976336 ck0001976336:BuildingProductsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 ck0001976336:MediaMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software North Star Acquisitionco, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 5/03/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Ardonagh Midco 3 PLC Asset Type First Lien Term Loan Reference Rate and Spread SON + 4.75% Interest Rate Floor 0.00% Interest Rate 9.45% Maturity Date 2/15/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Inhabitiq Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 1/12/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance World Insurance Associates, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 4/3/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software GS Acquisitionco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S +5.25% Interest Rate 9.23% Maturity Date 5/25/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies FL Hawk Intermediate Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate﻿ 8.81% Maturity Date 2/22/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Carr, Riggs & Ingram Capital, L.L.C. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 11/18/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Cold Chain Technologies, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.00% Interest Rate 10.06% Maturity Date 7/2/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software North Star Acquisitionco, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.06% Maturity Date 5/3/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software KPA Parent Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.18% Maturity Date 7/19/2026 2024-12-31 0001976336 ck0001976336:ItServicesMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Berlin Packaging LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate 7.38% Maturity Date 6/9/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Seahawk Bidco, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.06% Maturity Date 12/19/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Thunder Purchaser, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 0.00% Interest Rate Floor 0.00% Interest Rate 4.31% Maturity Date 6/30/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated BCPE North Star US Holdco 2, Inc. Commitment Type Revolver Commitment Expiration Date 6/10/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Packaging Coordinators Midco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate Floor 0.00% Interest Rate 8.08% Maturity Date 8/31/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Lubricant Engineers Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/1/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services AVG Intermediate Holdings LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.00% Interest Rate 10.08% Maturity Date 3/16/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Applied Technical Services, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 4/8/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Innovetive Petcare, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.23% Maturity Date 6/30/2028 Two 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:UnsecuredDebtMember 2025-06-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Cub Financing Intermediate, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread 4.75% Interest Rate 8.73% Maturity Date 6/28/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology HT Intermediary III, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 11/12/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Nelipak Holding Company Commitment Type Revolver Commitment Expiration Date 03/26/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Enverus Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 12/24/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software AQA Acquisition Holding, Inc. Assets Type First Lien Revolver Reference Rate and Spread S + 3.25% Interest Rate 7.23% Maturity Date 3/3/2028 2025-09-30 0001976336 ck0001976336:TotalUnfundedCommitmentsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Catalis Intermediate, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate 9.96% Maturity Date 8/4/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Onyx-Fire Protection Services Inc. Commitment Type Revolver Commitment Expiration Date 07/31/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Hotels, Restaurants and Leisure Ungerboeck Systems International, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.06% Maturity Date 4/30/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Prism Parent Co. Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 9/19/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Financial Services GTCR Momentum Aggregator LP Asset Type Preferred Interest Rate 12.00% PIK 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Premise Health Holding Corp. Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate 9.81% Maturity Date 3/1/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals LTI Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.75% Interest Rate 7.88% Maturity Date 7/29/2029 2025-09-30 0001976336 ck0001976336:HouseholdDurablesMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 us-gaap:EquityMethodInvestmentsMember 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Innovative Systems L.L.C. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/21/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies CoolSys, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate﻿ 9.32% Maturity Date 8/11/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software WatchGuard Technologies, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.58% Maturity Date 7/2/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies The Hiller Companies, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 6/20/2030 2025-09-30 0001976336 ck0001976336:ProfessionalServicesMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Tersera Therapeutics, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 6.75% Interest Rate Floor 1.00% Interest Rate 11.06% Maturity Date 4/4/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Adelaide Borrower, LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 3.38% Interest Rate 10.73% (Incl. 3.38% PIK) Maturity Date 5/8/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance AMBA Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.33% Maturity Date 7/30/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Aurora Plastics, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate﻿ 9.18% Maturity Date 8/10/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Unlimited Technology Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 3/12/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services GS Seer Group Borrower LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.75% Interest Rate 10.73% Maturity Date 4/29/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services HSI Halo Acquisition Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.31% Maturity Date 6/28/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Nelipak Holding Company Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.83% Maturity Date 3/26/2031 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:UnsecuredDebtMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Artifact Bidco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate Floor 0.50% Interest Rate 8.83% Maturity Date 7/26/2030 One 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Low Voltage Holdings Inc. Commitment Type Revolver Commitment Expiration Date 04/28/2032 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Vensure Employer Services, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.50% Interest Rate 9.31% Maturity Date 9/27/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Quality Automotive Services, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate﻿ 9.56% Maturity Date 7/16/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Cherry Bekaert Advisory LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 6/30/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Cub Financing Intermediate, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate﻿ 9.06% Maturity Date 6/28/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated HT Intermediary III, Inc. Commitment Type Revolver Commitment Expiration Date 11/12/2030 2024-12-31 0001976336 us-gaap:InvestmentUnaffiliatedIssuerMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Trading Companies and Distributors Surfaceprep Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 2/4/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Minotaur Acquisition, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.33% Maturity Date 6/3/2030 2024-12-31 0001976336 ck0001976336:O2024M2DividendsMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Resonetics, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate Floor 0.00% Interest Rate 8.08% Maturity Date 6/18/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Grant Thornton Advisors LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 6.63% Maturity Date 6/2/2031 2025-09-30 0001976336 us-gaap:TechnologySectorMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Vensure Employer Services, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/27/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Invictus Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 6/3/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Rimkus Consulting Group, Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 4/1/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated The Hiller Companies, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/22/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Prism Parent Co. Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 9/19/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Onyx-Fire Protection Services Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 07/31/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Aerospace and Defense TransDigm Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate Floor 0.00% Interest Rate﻿ 7.06% Maturity Date 3/22/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Textiles, Apparel and Luxury Goods Team Acquisition Corporation Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.83% Maturity Date 11/21/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Vaco Holdings, LLC Commitment Type Revolver Commitment Expiration Date 01/21/2027 2025-09-30 0001976336 currency:CAD ck0001976336:LocalMember 2025-09-30 0001976336 us-gaap:SecuredDebtMember us-gaap:FairValueInputsLevel2Member 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Taymax Group Acquisition, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate 10.23% Maturity Date 7/31/2026 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated American Residential Services LLC Commitment Type Revolver Commitment Expiration Date 1/31/2030 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Aurora Plastics, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/10/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Ext Acquisitions, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 6/26/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Industrial Conglomerates Harvey Tool Company, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.83% Maturity Date 10/26/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software 365 Retail Markets, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate 8.81% Maturity Date 12/22/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Quality Automotive Services, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 7/16/2027 Two 2025-09-30 0001976336 ck0001976336:SpecialtyRetailMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated MRI Software LLC Commitment Type Revolver Commitment Expiration Date 2/10/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Central Parent LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate Floor 0.00% Interest Rate 7.58% Maturity Date 7/6/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Litera Bidco LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.33% Maturity Date 5/1/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Household Products Wu Holdco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.31% Maturity Date 3/26/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Health Care Technology Goldeneye Parent, LLC Asset Type Preferred 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software OLO Parent, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 9/13/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated VRS Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 07/19/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Minotaur Acquisition, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 6/03/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Personal Care Products Apothecary Products, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.85% Maturity Date 7/27/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Flow Control Solutions, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/28/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Quick Quack Car Wash Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 6/10/2031 2024-12-31 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:BuckmanLaboratoriesMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Mclarens Midco Inc. Commitment Type Revolver Commitment Expiration Date 12/19/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Foreside Financial Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 9/30/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Lido Advisors, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 5/10/2032 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Health Care Technology DeLorean Topco, L.P. Asset Type Common 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Truck-Lite Co., LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 2/13/2032 One 2025-09-30 0001976336 Investments—non-controlled/non-affiliated YLG Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/26/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Edgeco Buyer, Inc. One Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate﻿ 8.81% Maturity Date 6/1/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated St Athena Global LLC Commitment Type Revolver Commitment Expiration Date 06/26/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Docs, MSO, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.18% Maturity Date 6/1/2028 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Bellwether Buyer, L.L.C. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 10/16/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Continental Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 4/2/2031 2024-12-31 0001976336 ck0001976336:ItServicesMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Trading Companies and Distributors Surfaceprep Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 2/4/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Phoenix 1 Buyer Corp. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 11/20/2029 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember ck0001976336:MarketYieldDiscountRatesMember ck0001976336:MarketYieldAnalysisMember srt:MaximumMember 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:MROCorporationMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services 123Dentist Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.08% Maturity Date 8/10/2029 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated HT Intermediary III, Inc. Commitment Type Revolver Commitment Expiration Date 11/12/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction Materials Pearlman Enterprises Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate 8.93% Maturity Date 5/5/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery CD&R Hydra Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.00% Interest Rate 8.23% Maturity Date 3/25/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated WST USA Holdco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/30/2025 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:GoldeneyeParentLLCOneMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Eclipse Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 9/8/2031 2025-09-30 0001976336 us-gaap:EquityMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated The Hiller Companies, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 07/17/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology SDS Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.83% Maturity Date 9/30/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Victory Buyer LLC Commitment Type Revolver Commitment Expiration Date 11/19/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Crown Laundry, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 5/28/2031 2025-09-30 0001976336 ck0001976336:S2024M4DividendsMember ck0001976336:SpecialDistributionPerShareMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Innovative Systems L.L.C. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 8/20/2032 2025-09-30 0001976336 ck0001976336:ElectricalEquipmentMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Vessco Midco Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/24/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Household Products TPC US Parent, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.21% Maturity Date 11/22/2025 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember srt:MinimumMember us-gaap:UnsecuredDebtMember ck0001976336:MarketYieldAnalysisMember 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:NovacapTMTVICo-InvestmentInvitaLPMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Foreside Financial Group, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/13/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Eclipse Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 9/8/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Imagine 360 LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/20/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance THG Acquisition, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 10/31/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services NJEYE LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.31% Maturity Date 3/14/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Edgeco Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 6/1/2028 Four 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Wireless Telecommunication Services Alert Media, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 4/12/2027 2025-09-30 0001976336 ck0001976336:PersonalCareProductsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Concord Global Acquisition, LLC, Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 0.00% Interest Rate Floor 0.00% Interest Rate 4.33% Maturity Date 12/29/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Monarch Buyer, Inc. Assets Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 6/2/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software McAfee Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate Floor 0.50% Interest Rate 7.33% Maturity Date 3/1/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services AB Centers Acquisition Corporation Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.56% Maturity Date 7/2/2031 2024-12-31 0001976336 us-gaap:SecuredDebtMember ck0001976336:InsuranceMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Minotaur Acquisition, Inc. Commitment Type Revolver Commitment Expiration Date 06/03/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Montana Buyer Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 7/22/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology DeLorean Purchaser, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/16/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Noble Midco 3 Limited Commitment Type Revolver Commitment Expiration Date 12/10/2030 2025-09-30 0001976336 ck0001976336:O2024M1DividendsMember ck0001976336:BaseDistributionPerShareMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services DMC Holdco, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.08% Maturity Date 7/13/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software DT Intermediate Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate Floor 0.75% Interest Rate 7.06% (Incl. 3.25% PIK) Maturity Date 2/24/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Health Care Technology DeLorean Purchaser, Inc. Asset Type Common 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Neon Maple Purchaser Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.88% Maturity Date 11/17/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Dwyer Instruments, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 7.75% Interest Rate Floor 0.00% Interest Rate 12.06% Maturity Date 7/23/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Media W2O Holdings, Inc Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.06% Maturity Date 6/12/2028 2024-12-31 0001976336 us-gaap:FairValueInputsLevel2Member 2024-12-31 0001976336 ck0001976336:AerospaceAndDefenseMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance OneDigital Borrower LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 7/2/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services VPP Intermediate Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 12/1/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Amerilife Holdings LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/18/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies WRE Holding Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/2/2031 2025-09-30 0001976336 ck0001976336:BaseDistributionPerShareMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Vamos Bidco, Inc Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 1/30/2032 2025-09-30 0001976336 us-gaap:AdditionalPaidInCapitalMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Alcor Scientific LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.73% Maturity Date 1/31/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Urology Management Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 6/15/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies WRE Holding Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/2/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Mclarens Midco Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.83% Maturity Date 12/19/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated The Chartis Group, LLC Commitment Type Revolver Commitment Expiration Date 09/17/2031 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Blackbird Purchaser, Inc. Commitment Type Revolver Commitment Expiration Date 12/19/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Truck-Lite Co., LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 2/13/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Trilon Group, LLC Commitment Type Revolver Commitment Expiration Date 05/29/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components JHCC Holdings LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate﻿ 9.56% Maturity Date 9/9/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services US Fitness Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 9/4/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Monarch Buyer, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 06/03/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components JHCC Holdings LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/9/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Electronic Equipment, Instruments and Components NSI Parent LP Asset Type Common 2025-09-30 0001976336 us-gaap:FairValueInputsLevel2Member 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Vertex Service Partners, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate 9.81% Maturity Date 11/8/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Bridges Consumer Healthcare Intermediate LLC Commitment Type Revolver Commitment Expiration Date 12/22/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated RFI Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 08/05/2030 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember us-gaap:UnsecuredDebtMember ck0001976336:MarketYieldAnalysisMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Ridge Trail US Bidco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.81% Maturity Date 9/30/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Potters Industries LLC Commitment Type Revolver Commitment Expiration Date 9/14/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Cerity Partners Equity Holding LLC Commitment Type Revolver Commitment Expiration Date 7/28/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Technology Hardware, Storage and Peripherals TA TT Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 4/2/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Swoop Intermediate III, Inc. Commitment Type Revolver Commitment Expiration Date 04/12/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging St Athena Global LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread SON + 5.25% Interest Rate Floor 0.00% Interest Rate 9.56% Maturity Date 6/26/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Quality Automotive Services, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/16/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services DT1 Midco Corp Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.31% Maturity Date 12/30/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Automobile Components Clarity Technologies Holdings, LP Asset Type Common 2025-09-30 0001976336 Investments—non-controlled/non-affiliated World Insurance Associates, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 08/14/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Apex Service Partners, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 10/24/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services GSV Holding, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.25% Interest Rate Floor 1.00% Interest Rate 8.56% Maturity Date 10/18/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated STCH Acquisition Inc. Commitment Type Revolver Commitment Expiration Date 10/30/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Amerilife Holdings LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 8/31/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies YLG Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.06% Maturity Date 10/30/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services VPP Intermediate Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.98% Maturity Date 12/1/2027 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software GS Acquisitionco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 5/25/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components OAC Holdings I Corp Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate﻿ 9.43% Maturity Date 3/30/2029 2024-12-31 0001976336 us-gaap:ShortTermInvestmentsMember 2025-09-30 0001976336 us-gaap:SecuredDebtMember ck0001976336:PharmaceuticalsMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Mclarens Midco Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/19/2027 2025-09-30 0001976336 ck0001976336:DerivativeContractsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Apex Service Partners, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 10/24/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software OLO Parent, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 9/13/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated MRO Corporation Commitment Type Delayed Draw Term Loan Commitment Expiration Date 06/09/2027 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated JHCC Holdings LLC Commitment Type Revolver Commitment Expiration Date 9/9/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Zinc Buyer Corporation Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 7/24/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Eclipse Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 9/6/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Allied Benefit Systems Intermediate LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 10/31/2030 2025-09-30 0001976336 ck0001976336:LocalMember currency:EUR 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Arax MidCo, LLC Commitment Type Revolver Commitment Expiration Date 4/11/2029 2024-12-31 0001976336 ck0001976336:CommonClassIMember us-gaap:SubsequentEventMember 2025-10-01 2025-10-01 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals TWL Holdings Corp Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.71% Maturity Date 11/60/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Cherry Bekaert Advisory LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.58% Maturity Date 6/30/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Trimech Acquisition Corp. Commitment Type Revolver Commitment Expiration Date 03/10/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Household Products TPC US Parent, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.88% Maturity Date 2/23/2026 2025-09-30 0001976336 us-gaap:EquityMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Hotels, Restaurants and Leisure Southpaw Ap Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 3/2/2028 2025-09-30 0001976336 ck0001976336:OilGasAndConsumableFuelsMember 2024-12-31 0001976336 ck0001976336:MachineryMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member 2024-12-31 0001976336 ck0001976336:HouseholdProductsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Contractual Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.73% Maturity Date 10/10/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bamboo US BidCo LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/30/2030 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Wildcat Topco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 11/17/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software MRI Software LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 2/10/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors DFS Holding Company, Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25 % Interest Rate Floor 1.00% Interest Rate 10.50% Maturity Date 1/31/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Palmetto Acquisitionco Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate﻿ 10.06% Maturity Date 9/18/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Wealth Enhancement Group, LLC Commitment Type Revolver Commitment Expiration Date 10/2/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Hotels, Restaurants and Leisure Southpaw Ap Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 3/2/2028 2025-09-30 0001976336 currency:EUR country:US 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Blackbird Purchaser, Inc. Commitment Type Revolver Commitment Expiration Date 12/19/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Specialty Retail SCW Holdings III Corp. Asset Type Preferred 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Healthcare Providers and Services MRO Corporation Asset Type Common 2025-09-30 0001976336 Investments—non-controlled/non-affiliated World Insurance Associates, LLC Commitment Type Revolver Commitment Expiration Date 04/03/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Amerilife Holdings LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 8/31/2029 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Lido Advisors, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/10/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Trilon Group, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 5/29/2029 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Enverus Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/24/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services EPFS Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/31/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Innovetive Petcare, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.23% Maturity Date 6/30/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Charkit Chemical Company, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.88% Interest Rate Floor 1.00% Interest Rate﻿ 9.31% Maturity Date 12/29/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies The Hiller Companies, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate﻿ 9.33% Maturity Date 6/20/2030 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Flint Opco, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/27/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Allworth Financial Group, L.P. Asset Type First Lien Term Loan Reference Rate and Spread 4.75% Interest Rate 8.88% Maturity Date 12/23/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Foreside Financial Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.83% Maturity Date 9/30/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Aurora Plastics, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.98% Maturity Date 8/12/2030 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:EquityMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Spirit RR Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.16% Maturity Date 9/13/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software KPA Parent Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 3/12/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Textiles, Apparel and Luxury Goods Team Acquisition Corporation Asset Type First Lien Revolver Reference Rate and Spread S + 7.00% Interest Rate 10.98% Maturity Date 11/21/2028 2025-09-30 0001976336 2023-12-31 0001976336 Investments – Non-controlled/non-affiliated Harvey Tool Company, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/28/2026 2025-09-30 0001976336 us-gaap:CommonStockMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Aurora Plastics, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.98% Maturity Date 8/12/2030 One 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Frazier & Deeter Advisory, LLC Commitment Type Revolver Commitment Expiration Date 5/2/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services GSV Holding, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 10/18/2030 2025-09-30 0001976336 ck0001976336:S2024M3DividendsMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Disa Holdings Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 9/9/2028 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Govdelivery Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.50% Interest Rate 9.73% (Incl. 2.25% PIK) Maturity Date 1/17/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery RFI Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.58% Maturity Date 8/5/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Psc Parent, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/3/2025 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Valicor PPC Intermediate II LLC Commitment Type Revolver Commitment Expiration Date 01/24/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Ave Holdings III, Corp Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate 9.60% Maturity Date 2/25/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Blades Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.23% Maturity Date 3/28/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bamboo US BidCo LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/30/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services DT1 Midco Corp Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 12/30/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies WRE Holding Corp. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.85% Maturity Date 7/2/2030 2025-09-30 0001976336 ck0001976336:AerospaceAndDefenseMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated FR Vision Holdings Inc Commitment Type Revolver Commitment Expiration Date 1/22/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software North Star Acquisitionco, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 5/03/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology HT Intermediary III, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.08% Maturity Date 11/12/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services HSI Halo Acquisition Inc. Assets Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 6/30/2031 2025-09-30 0001976336 currency:CAD ck0001976336:LocalMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Cardiology Management Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.73% Maturity Date 1/31/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Monotype Imaging Holdings Inc. Commitment Type Revolver Commitment Expiration Date 2/28/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Edgeco Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 6/1/2028 One 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated DeLorean Purchaser, Inc. Commitment Type Revolver Commitment Expiration Date 12/16/2031 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:LowVoltageHoldingsIncMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Arax MidCo, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate﻿ 10.06% Maturity Date 4/11/2029 2024-12-31 0001976336 ck0001976336:O2024Q1DividendsMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software MRI Software LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.06% Maturity Date 2/10/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Concord Global Acquisition, LLC, Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 12/29/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Red Fox CD Acquisition Corporation Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/1/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Pathstone Family Office LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.33% Maturity Date 5/15/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Digital.AI Software Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate 9.98% Maturity Date 08/10/2028 2025-09-30 0001976336 us-gaap:UnsecuredDebtMember us-gaap:FairValueInputsLevel1Member 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Packaging Coordinators Midco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 1/22/2032 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:TransactionPriceMember us-gaap:EquityMember ck0001976336:RecentTransactionMember srt:MaximumMember 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated IG Investments Holdings, LLC Commitment Type Revolver Commitment Expiration Date 9/22/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Camelot U.S. Acquisition LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate Floor 0.00% Interest Rate 7.08% Maturity Date 1/31/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Integrity Marketing Acquisition, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 8/25/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Low Voltage Holdings Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 4/28/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Empyrean Solutions, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/25/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology HT Intermediary III, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 11/12/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Accession Risk Management, Inc Commitment Type Revolver Commitment Expiration Date 11/1/2029 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Disa Holdings Corp. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/1/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services CVP Holdco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 6/28/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Safety Borrower Holdings LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 9/1/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services GSV Holding, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.63% Interest Rate Floor 1.00% Interest Rate 10.06% (Incl. 3.13% PIK) Maturity Date 10/18/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Sailpoint Technologies Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 0.75% Interest Rate 10.31% Maturity Date 8/16/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Health Buyer LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 4/27/2029 2025-09-30 0001976336 us-gaap:RealEstateSectorMember 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Ave Holdings III, Corp Commitment Type Revolver Commitment Expiration Date 2/25/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Disa Holdings Corp. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/1/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Clinical Education Alliance, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.46% Maturity Date 12/12/2026 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember ck0001976336:MarketYieldDiscountRatesMember ck0001976336:MarketYieldAnalysisMember srt:MaximumMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Rimkus Consulting Group, Inc. Commitment Type Revolver Commitment Expiration Date 4/1/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Quality Automotive Services, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 07/16/2027 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Swoop Intermediate III, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 4/12/2032 2025-09-30 0001976336 us-gaap:FinancialSupportWaivedFeesMember 2025-07-01 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Imagine 360 LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/20/2026 2025-09-30 0001976336 ck0001976336:HealthCareTechnologyMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember us-gaap:EquityMember ck0001976336:MarketYieldAnalysisMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Pareto Health Intermediate Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/1/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Routeware, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 8.00% Interest Rate Floor 1.00% Interest Rate 12.31% Maturity Date 9/18/2031 2024-12-31 0001976336 ck0001976336:AdviserMember 2024-01-01 2024-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Beverages Pegasus BidCo B.V. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% 6.73% Maturity Date 7/12/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Invictus Buyer, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/4/2026 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember us-gaap:SecuredDebtMember ck0001976336:MarketYieldAnalysisMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Collision Sp Subco, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate﻿ 9.81% Maturity Date 1/29/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Crown Laundry, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.70% Maturity Date 3/8/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software North Star Acquisitionco, LLC Asset Type First Lien Term Loan Reference Rate and Spread C + 4.75% Interest Rate Floor 0.00% Interest Rate 8.00% Maturity Date 5/3/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Packaging Coordinators Midco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 04/23/2026 2025-09-30 0001976336 ck0001976336:HouseholdDurablesMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Aurora Parts & Accessories LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.88% Maturity Date 1/13/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Team Acquisition Corporation Commitment Type Revolver Commitment Expiration Date 11/21/2028 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Hydraulic Technologies USA LLC Commitment Type Revolver Commitment Expiration Date 6/3/2030 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Kriv Acquisition Inc. Commitment Type Revolver Commitment Expiration Date 7/31/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Routeware, Inc. Commitment Type Revolver Commitment Expiration Date 9/18/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products WPP Bullet Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.56% Maturity Date 12/7/2029 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated F&M Buyer LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/19/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Aprio Advisory Group, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 8/1/2031 2024-12-31 0001976336 ck0001976336:CapitalMarketsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Orsini Pharmaceutical Services, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.68% Maturity Date 5/2/2029 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember ck0001976336:MarketYieldDiscountRatesMember srt:MinimumMember ck0001976336:MarketYieldAnalysisMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Kipu Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 1/27/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance AMBA Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.66% Maturity Date 7/30/2027 2024-12-31 0001976336 ck0001976336:HealthcareEquipmentAndSuppliesMember 2025-09-30 0001976336 ck0001976336:BaseDistributionPerShareMember ck0001976336:S2024M2DividendsMember 2025-01-01 2025-09-30 0001976336 ck0001976336:AdviserMember 2025-07-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Premise Health Holding Corp. Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 3/3/2031 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Low Voltage Holdings Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 10/28/2027 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Anchor Packaging, LLC Commitment Type Revolver Commitment Expiration Date 4/17/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electrical Equipment TPC Engineering Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate 9.93% Maturity Date 2/16/2027 One 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software 365 Retail Markets, LLC Assets Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 12/23/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services DT1 Midco Corp Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 12/30/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services The Chartis Group, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.81% Maturity Date 9/17/2031 2024-12-31 0001976336 ck0001976336:FinancialServicesMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging St Athena Global LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 6/26/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Lubricant Engineers Commitment Type Revolver Commitment Expiration Date 09/01/2029 2025-09-30 0001976336 ck0001976336:AirFreightAndLogisticsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services DTI Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 4/26/2029 2024-12-31 0001976336 us-gaap:TechnologySectorMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Blackhawk Industrial Distribution, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 9/17/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Monotype Imaging Holdings Inc. Commitment Type Revolver Commitment Expiration Date 2/28/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies CDL Parent, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/7/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software North Star Acquisitionco, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.31% Maturity Date 5/3/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Allied Benefit Systems Intermediate LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.38% Maturity Date 10/31/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction Materials Pearlman Enterprises Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.73% Maturity Date 5/5/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Potters Industries LLC Asset Type First Lien Revolver Reference Rate and Spread S + 2.75% Interest Rate 6.83% Maturity Date 9/14/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software MRI Software LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 2/10/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Aerospace and Defense GSP Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 10.63% (Incl. 0.75% PIK) Maturity Date 11/6/2026 2025-09-30 0001976336 ck0001976336:MorganStanleyFacilityMember 2025-03-18 0001976336 Investments—non-controlled/non-affiliated Wu Holdco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 04/16/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Empyrean Solutions, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.06% Maturity Date 11/26/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Marina Acquisition, Inc. Commitment Type Revolver Commitment Expiration Date 07/01/2030 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated CVP Holdco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/29/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies YLG Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/23/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Innovetive Petcare, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.46% Maturity Date 6/30/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology F&M Buyer LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 3/18/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services STCH Acquisition Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.48% Maturity Date 10/30/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software MRI Software LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.16% Maturity Date 2/10/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services CVP Holdco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 6/30/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services CRCI Longhorn Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 8/27/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Apex Service Partners, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 10/24/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Continental Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.50% Maturity Date 4/2/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies CDL Parent, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 12/7/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Rimkus Consulting Group, Inc. Commitment Type Revolver Commitment Expiration Date 04/01/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Quality Automotive Services, LLC Commitment Type Revolver Commitment Expiration Date 7/16/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated TPC Engineering Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 2/16/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Tersera Therapeutics, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.06% Maturity Date 4/4/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Clyde Industries Us Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 12/18/2026 2025-09-30 0001976336 srt:MinimumMember ck0001976336:IncentiveFeePaymentConditionTwoMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Process Insights Acquisition, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate 10.23% Maturity Date 7/18/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services Integrated Power Services Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.99% Maturity Date 11/22/2028 2025-09-30 0001976336 country:CA 2025-09-30 0001976336 Investments—non-controlled/non-affiliated St Athena Global LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 06/26/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Artifact Bidco, Inc. Commitment Type Revolver Commitment Expiration Date 7/26/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets The Ultimus Group Midco, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software DS Admiral Bidco, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.00% Interest Rate Floor 0.00% Interest Rate 8.33% Maturity Date 6/26/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Phynet Dermatology LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.50% Interest Rate Floor 1.00% Interest Rate 10.81% Maturity Date 10/20/2029 2024-12-31 0001976336 ck0001976336:ItServicesMember us-gaap:EquitySecuritiesMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services OIS Management Services, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 11/16/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products RB Holdings Interco, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 5/4/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Cub Financing Intermediate, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate﻿ 9.06% Maturity Date 6/28/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Pavion Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate﻿ 10.06% Maturity Date 10/30/2030 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Aprio Advisory Group, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/26/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Ensemble RCM, LLC Commitment Type Revolver Commitment Expiration Date 6/27/2028 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Kriv Acquisition Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 10/1/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer ServicesCop Hometown Acquisitions, Inc. (fka Cop Airco Acquisitions, Inc.) Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.96% Maturity Date 7/16/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Wisdom Purchaser, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 7/24/2032 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Hercules Borrower LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/16/2025 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Fourth Enterprises, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 3/21/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance THG Acquisition, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 10/31/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Acuren Delaware Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.88% Maturity Date 7/30/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Phynet Dermatology LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.50% Interest Rate 10.48% Maturity Date 10/20/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering FR Vision Holdings Inc Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 1/20/2031 2025-09-30 0001976336 us-gaap:CommonStockMember 2023-12-31 0001976336 Investments—non-controlled/non-affiliated JHCC Holdings LLC Commitment Type Revolver Commitment Expiration Date 9/9/2027 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember ck0001976336:MarketYieldDiscountRatesMember srt:MinimumMember ck0001976336:MarketYieldAnalysisMember 2025-09-30 0001976336 currency:GBP country:US 2025-09-30 0001976336 ck0001976336:ElectricalEquipmentMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Ruppert Landscape, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.06% Maturity Date 12/1/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Blades Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.41% Maturity Date 3/28/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Anchor Packaging, LLC Commitment Type Revolver Commitment Expiration Date 4/17/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Osttra Group Ltd. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.50% Interest Rate 7.48% Maturity Date 5/20/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Oakbridge Insurance Agency LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 11/1/2029 2025-09-30 0001976336 us-gaap:SecuredDebtMember ck0001976336:SpecialtyRetailMember 2025-09-30 0001976336 2025-09-30 0001976336 ck0001976336:PersonalCareProductsMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Specialtycare, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 08/27/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products WPP Bullet Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 12/7/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Contractual Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 0.75% Interest Rate 10.33% Maturity Date 10/10/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated USRP Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/31/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services AVG Intermediate Holdings LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 10.41% Maturity Date 3/16/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software 365 Retail Markets, LLC Assets Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 12/23/2028 One 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Empower Payments Investor, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/12/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated KPA Parent Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 7/17/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services DT1 Midco Corp Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.31% Maturity Date 12/30/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Americhem, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 3/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Kleinfelder Intermediate LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 9/18/2030 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Artifact Bidco, Inc. Commitment Type Revolver Commitment Expiration Date 7/26/2030 One 2025-09-30 0001976336 InvestmentBasisSpreadVariableRate 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Proofpoint, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 8/31/2028 2025-09-30 0001976336 ck0001976336:BaseDistributionPerShareMember ck0001976336:O2024M2DividendsMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Merlin Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 0.50% Interest Rate Floor 0.00% Interest Rate 4.81% Maturity Date 12/14/2026 2024-12-31 0001976336 ck0001976336:UnfundedInvestmentCommitmentMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Kestra Advisor Services Holdings A, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 3/22/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Cerity Partners Equity Holding LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 7/30/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Welocalize, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/23/2026 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated CRCI Longhorn Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 8/27/2031 2025-09-30 0001976336 currency:EUR 2024-12-31 0001976336 ck0001976336:AutomobileComponentsMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products RB Holdings Interco, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.43% Maturity Date 5/4/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Wu Holdco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/12/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Household Products Wu Holdco, Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 4/19/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Cub Financing Intermediate, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/28/2026 2025-09-30 0001976336 ck0001976336:PersonalCareProductsMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Flow Control Solutions, Inc. Commitment Type Revolver Commitment Expiration Date 3/31/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Oil, Gas and Consumable Fuels Valicor PPC Intermediate II LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.33% Maturity Date 7/24/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Wealth Enhancement Group, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 10/2/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services YA Intermediate Holdings II, LLC Assets Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.60% Maturity Date 10/1/2031 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated IMO Investor Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 5/11/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Exactcare Parent Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 11/5/2029 2025-09-30 0001976336 ck0001976336:TextilesApparelAndLuxuryGoodsMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated TPC Engineering Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 02/16/2027 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Bulab Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Innovetive Petcare, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.46% Maturity Date 6/30/2028 One 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Oeconnection LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.00% Interest Rate Floor 0.75% Interest Rate 8.33% Maturity Date 4/22/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Cold Chain Technologies, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.31% Maturity Date 7/2/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Palmetto Acquisitionco Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.73% Maturity Date 9/18/2029 2025-09-30 0001976336 ck0001976336:BeveragesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Goldeneye Parent, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 3/31/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Empower Payments Investor, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 3/12/2031 2025-09-30 0001976336 us-gaap:SubsequentEventMember 2025-10-31 2025-10-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Invictus Buyer, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 6/3/2031 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Crown Laundry, LLC Commitment Type Revolver Commitment Expiration Date 5/28/2031 2025-09-30 0001976336 ck0001976336:DiversifiedConsumerServicesMember us-gaap:EquitySecuritiesMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Eclipse Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate 9.08% Maturity Date 9/8/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services SpecialtyCare, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate 7.84% Maturity Date 12/18/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Wildcat Topco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 11/17/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services ACI Group Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate Floor 0.75% Interest Rate 10.43% (Incl. 3.25% PIK) Maturity Date 8/2/2028 2024-12-31 0001976336 us-gaap:ConsumerSectorMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services OIS Management Services, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 11/16/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Transportation Infrastructure VRS Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/19/2032 2025-09-30 0001976336 ck0001976336:ItServicesMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Enverus Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 12/24/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Formulations Parent Corporation Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate Floor 0.00% Interest Rate﻿ 10.08% Maturity Date 11/15/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Dwyer Instruments, LLC Commitment Type Revolver Commitment Expiration Date 7/20/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Collision Sp Subco, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate﻿ 9.81% Maturity Date 1/29/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Skopima Consilio Parent LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.75% Interest Rate Floor 0.50% Interest Rate 8.08% Maturity Date 5/12/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies The Hiller Companies, LLC Asset Type First Lien Revolver Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/20/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services CVR Management, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 1/4/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Quick Quack Car Wash Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 6/10/2031 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Bellwether Buyer, L.L.C. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 4/15/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Essential Services Holding Corporation Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/17/2031 2025-09-30 0001976336 ck0001976336:LifeSciencesToolsServicesMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Lido Advisors, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 5/10/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Ampirical Solutions, LLC Commitment Type Revolver Commitment Expiration Date 9/30/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Textiles, Apparel and Luxury Goods Varsity Brands, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 6.98% Maturity Date 8/26/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products Surewerx Purchaser III Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate﻿ 9.56% Maturity Date 12/28/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Truck-Lite Co., LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate﻿ 10.06% Maturity Date 2/13/2030 2024-12-31 0001976336 currency:CAD country:US 2024-12-31 0001976336 Investments—non-controlled/non-affiliated OLO Parent, Inc. Commitment Type Revolver Commitment Expiration Date 09/13/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated WRE Holding Corp. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/2/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software DT Intermediate Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 9.98% (Incl. 3.25% PIK) Maturity Date 2/24/2028 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:ACGParentHoldingsLPOneMember 2025-01-01 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:SCWHoldingsIIICorpMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services VPP Intermediate Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.98% Maturity Date 12/1/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Vital Care Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 7/30/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Empyrean Solutions, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 11/26/2031 2025-09-30 0001976336 ck0001976336:HouseholdProductsMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Power Stop, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.83% Maturity Date 1/26/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Apex Service Partners, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.33% Maturity Date 10/24/2029 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember ck0001976336:TransactionPriceMember ck0001976336:RecentTransactionMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Saturn Borrower Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate 9.98% Maturity Date 11/13/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Learning Care Group (US) No. 2 Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.00% Interest Rate 7.98% Maturity Date 8/11/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services ImageFirst Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.00% Interest Rate Floor 0.75% Interest Rate 8.31% Maturity Date 4/27/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Boxer Parent Company Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 6.98% Maturity Date 7/30/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Southpaw Ap Buyer, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/1/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Ruppert Landscape, LLC Commitment Type Revolver Commitment Expiration Date 12/1/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Imagine 360 LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 9/30/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Athenahealth Group Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.50% Interest Rate Floor 0.00% Interest Rate 7.83% Maturity Date 2/15/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering FR Vision Holdings Inc, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate 9.81% Maturity Date 1/20/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance THG Acquisition, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 10/31/2031 2025-09-30 0001976336 2024-06-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember srt:MinimumMember us-gaap:EquityMember ck0001976336:MarketYieldAnalysisMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Wireless Telecommunication Services CCI Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 5/13/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Monotype Imaging Holdings Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 2/28/2031 2024-12-31 0001976336 us-gaap:SecuredDebtMember ck0001976336:BeveragesMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated The Chartis Group, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 09/17/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Soleo Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 1/30/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated VPP Intermediate Holdings, LLC Commitment Type Revolver Commitment Expiration Date 12/01/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Eos Fitness Opco Holdings, LLC Commitment Type Revolver Commitment Expiration Date 1/5/2028 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:EquityMethodInvestmentsMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Oeconnection LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.58% Maturity Date 4/22/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Industrial Conglomerates Harvey Tool Company, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.58% Maturity Date 10/26/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Amneal Pharmaceuticals LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.50% Interest Rate 7.63% Maturity Date 8/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering FR Vision Holdings Inc, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate 9.81% Maturity Date 1/20/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Routeware, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/18/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Onsite Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate Floor 1.00% Interest Rate 10.66% Maturity Date 12/28/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bridges Consumer Healthcare Intermediate LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.56% Maturity Date 12/20/2031 2024-12-31 0001976336 currency:GBP 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Health Care Technology Goldeneye Parent, LLC Asset Type Common 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Imagine 360 LLC Commitment Type Revolver Commitment Expiration Date 9/30/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated DCG Acquisition Corp. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/13/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services PDI TA Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 1/29/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Cardinal Parent, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.96% Maturity Date 11/12/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Prism Parent Co. Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 09/19/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Disa Holdings Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 9/11/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Low Voltage Holdings Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 4/28/2032 One 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Emburse, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/29/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Medallia, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate Floor 0.75% Interest Rate 6.91% Maturity Date 10/29/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated WRE Holding Corp. Commitment Type Revolver Commitment Expiration Date 7/2/2030 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Americhem, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 2/28/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Low Voltage Holdings Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 4/28/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets HighTower Holding, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate Floor 0.00% Interest Rate﻿ 8.08% Maturity Date 10/21/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging PLZ Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.75% Interest Rate 7.99% Maturity Date 8/3/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors BC Group Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/21/2027 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Ampirical Solutions, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/30/2027 2025-09-30 0001976336 us-gaap:ShortTermInvestmentsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Ungerboeck Systems International, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 4/30/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services USRP Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 12/31/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electrical Equipment Power Grid Holdings, Inc. LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 12/2/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Beyond Risk Parent Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.00% Interest Rate 8.93% Maturity Date 10/8/2027 2024-12-31 0001976336 us-gaap:EquitySecuritiesMember 2024-12-31 0001976336 ck0001976336:GroundTransportationMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Flow Control Solutions, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 6.00% Interest Rate Floor 0.75% Interest Rate 10.31% Maturity Date 3/31/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated HeartLand PPC Buyer, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/13/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Monotype Imaging Holdings Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 2/28/2030 2024-12-31 0001976336 us-gaap:ConsumerSectorMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products Primary Products Finance LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate Floor 0.00% Interest Rate 7.58% Maturity Date 4/1/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Vamos Bidco, Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 1/30/2032 2025-09-30 0001976336 ck0001976336:PharmaceuticalsMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Hercules Borrower LLC Commitment Type Revolver Commitment Expiration Date 12/15/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated MRI Software LLC Commitment Type Revolver Commitment Expiration Date 02/10/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Hercules Borrower LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate﻿ 9.91% Maturity Date 12/14/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets The Ultimus Group Midco, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate﻿ 9.66% Maturity Date 3/7/2031 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated AWP Group Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/23/2030 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:SeahawkHoldingsLPMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Trunk Acquisition, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 0.00% Interest Rate 10.46% Maturity Date 2/19/2030 2024-12-31 0001976336 ck0001976336:InsuranceMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Phantom Purchaser, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 9/19/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Containers and Packaging TCB Holdings I LLC Asset Type Equity Interest Rate 14.00% PIK 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software WatchGuard Technologies, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 7/02/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Monotype Imaging Holdings Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 2/28/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals LTI Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate﻿ 9.08% Maturity Date 7/29/2029 2024-12-31 0001976336 ck0001976336:IndustrialConglomeratesMember 2025-09-30 0001976336 ck0001976336:SoftwareMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Arax MidCo, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate﻿ 9.31% Maturity Date 4/11/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Minotaur Acquisition, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 06/04/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services YA Intermediate Holdings II, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.00% Interest Rate Floor 0.75% Interest Rate 8.31% Maturity Date 10/1/2031 2024-12-31 0001976336 us-gaap:SecuredDebtMember us-gaap:FairValueInputsLevel1Member 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Media MH Sub I, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate 8.38% Maturity Date 12/31/2031 2025-09-30 0001976336 ck0001976336:DiversifiedTelecommunicationServicesMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Industrial Conglomerates Harvey Tool Company, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 8/6/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Kenco PPC Buyer LLC Commitment Type Revolver Commitment Expiration Date 11/15/2029 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:EPFSAcquisitionHoldingsLPMember 2025-01-01 2025-09-30 0001976336 ck0001976336:InterestFloorZeroMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Enverus Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.83% Maturity Date 12/22/2029 2024-12-31 0001976336 ck0001976336:CapitalMarketsMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember srt:WeightedAverageMember ck0001976336:TransactionPriceMember ck0001976336:RecentTransactionMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Pegasus Transtech Holding, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate 10.13% Maturity Date 11/17/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies YLG Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/23/2030 2025-09-30 0001976336 currency:CAD country:US 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services YA Intermediate Holdings II, LLC Assets Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.60% Maturity Date 10/1/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services AB Centers Acquisition Corporation Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Onsite Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/19/2025 2025-09-30 0001976336 ck0001976336:SharesRepurchaseProgramMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Kriv Acquisition Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.08% Maturity Date 7/6/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Ruppert Landscape, LLC Assets Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/3/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Foreside Financial Group, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.68% Maturity Date 9/30/2027 2024-12-31 0001976336 ck0001976336:SpecialDistributionPerShareMember ck0001976336:S2024M5DividendsMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Low Voltage Holdings Inc. Commitment Type Revolver Commitment Expiration Date 04/28/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Propio LS, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/25/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services VPP Intermediate Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate 9.98% Maturity Date 12/1/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals DCG Acquisition Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/13/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Aurorium Global Holdings LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate﻿ 10.21% Maturity Date 12/22/2027 2024-12-31 0001976336 ck0001976336:ExpenseSupportAgreementMember 2024-10-16 2024-10-16 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services CRCI Longhorn Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 8/27/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electrical Equipment TPC Engineering Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate 9.73% Maturity Date 2/16/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Lubricant Engineers Commitment Type Delayed Draw Term Loan Commitment Expiration Date 03/31/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Innovetive Petcare, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 6/30/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Vaco Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.33% Maturity Date 1/21/2027 2024-12-31 0001976336 ck0001976336:LocalMember currency:GBP 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance World Insurance Associates, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 4/3/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Adelaide Borrower, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate Floor 0.75% Interest Rate 10.56% Maturity Date 5/8/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Noble Midco 3 Limited Commitment Type Revolver Commitment Expiration Date 12/11/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Oeconnection LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 4/22/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Community Medical Acquisition Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.25% Maturity Date 12/15/2028 2024-12-31 0001976336 us-gaap:ConstructionSectorMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services SpecialtyCare, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.32% Maturity Date 6/18/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Bamboo US BidCo LLC Commitment Type Revolver Commitment Expiration Date 10/1/2029 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:UnsecuredDebtMember 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:TransactionPriceMember us-gaap:EquityMember ck0001976336:RecentTransactionMember 2025-09-30 0001976336 ck0001976336:CommercialServicesAndSuppliesMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services JKC Parent, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 2/13/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Continental Buyer, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/15/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products WST USA Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread 4.75% Interest Rate 8.83% Maturity Date 3/31/2027 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:GoldeneyeParentLLCTwoMember 2025-01-01 2025-09-30 0001976336 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Ridge Trail US Bidco, Inc. Commitment Type Revolver Commitment Expiration Date 3/31/2031 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Concord Global Acquisition, LLC, Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/28/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Wireless Telecommunication Services Alert Media, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.31% Maturity Date 4/12/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Plaskolite PPC Intermediate II LLC Commitment Type Revolver Commitment Expiration Date 02/07/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Trimech Acquisition Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.06% Maturity Date 3/10/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Crisis Prevention Institute, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate 9.08% Maturity Date 4/9/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software 365 Retail Markets, LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 12/23/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Prism Parent Co. Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 9/19/2028 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Essential Services Holding Corporation Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/17/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Propio LS, LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 5/10/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services GSV Holding, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.63% Interest Rate 9.73% (Incl. 3.13% PIK) Maturity Date 10/18/2030 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:DeLoreanTopcoLPMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated AB Centers Acquisition Corporation Commitment Type Revolver Commitment Expiration Date 7/2/2031 2024-12-31 0001976336 ck0001976336:TransportationInfrastructureMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology IMO Investor Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.31% Maturity Date 5/11/2029 2024-12-31 0001976336 ck0001976336:IndustrialConglomeratesMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 us-gaap:EquityMethodInvestmentsMember us-gaap:FairValueInputsLevel1Member 2025-09-30 0001976336 ck0001976336:GroundTransportationMember 2025-09-30 0001976336 ck0001976336:CapitalMarketsMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Crisis Prevention Institute, Inc. Commitment Type Revolver Commitment Expiration Date 4/9/2029 2024-12-31 0001976336 ck0001976336:ProfessionalServicesMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies HP RSS Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate﻿ 9.31% Maturity Date 12/11/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Ridge Trail US Bidco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 9/30/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Enverus Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate 9.83% Maturity Date 12/22/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Real Estate Management and Development Sako and Partners Lower Holdings LLC. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate 8.81% Maturity Date 9/15/2028 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Beyond Risk Parent Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/9/2026 2025-09-30 0001976336 us-gaap:FinancialServiceMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Citrin Cooperman Advisors, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.60% Maturity Date 10/1/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Victors Purchaser, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 08/15/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Eos Fitness Opco Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.56% Maturity Date 1/5/2028 2024-12-31 0001976336 ck0001976336:InsuranceMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services CVP Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 6/30/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies AWP Group Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 12/23/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Ave Holdings III, Corp Commitment Type Revolver Commitment Expiration Date 2/25/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Project Accelerate Parent LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 2/24/2031 2025-09-30 0001976336 ck0001976336:BaseDistributionPerShareMember ck0001976336:S2024M4DividendsMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated USHV Management, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 09/09/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Foreigner Bidco Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.73% Maturity Date 4/19/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Ridge Trail US Bidco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.35% Maturity Date 9/30/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Aerospace and Defense Bleriot US Bidco Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate Floor 0.00% Interest Rate 7.06% Maturity Date 10/31/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Software Scorpion Holdings, LLC Asset Type Common 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Potters Industries LLC Commitment Type Revolver Commitment Expiration Date 09/14/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Media Fitness International LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.58% Maturity Date 2/12/2029 2024-12-31 0001976336 ck0001976336:HouseholdProductsMember 2025-09-30 0001976336 us-gaap:FinancialSupportWaivedFeesMember 2024-01-01 2024-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Hercules Borrower LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate﻿ 9.91% Maturity Date 12/14/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Potters Industries LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate Floor 0.00% Interest Rate﻿ 8.08% Maturity Date 9/14/2027 2024-12-31 0001976336 ck0001976336:BlackRockLiquidityTFundInstitutionalSharesMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Wealth Enhancement Group, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/30/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Raven Acquisition Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 11/19/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Spartan Bidco PTY LTD Commitment Type Revolver Commitment Expiration Date 1/24/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated RxSense Holdings LLC Commitment Type Revolver Commitment Expiration Date 03/12/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bamboo US BidCo LLC Asset Type First Lien Term Loan Reference Rate and Spread E + 5.25% Interest Rate Floor 1.00% Interest Rate 7.96% Maturity Date 9/30/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Quality Automotive Services, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate﻿ 9.56% Maturity Date 7/16/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors BC Group Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/21/2027 One 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated JKC Parent, Inc. Commitment Type Revolver Commitment Expiration Date 2/13/2032 2025-09-30 0001976336 us-gaap:SecuredDebtMember ck0001976336:SpecialtyRetailMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Bracket Intermediate Holding Corp. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.33% Maturity Date 2/7/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Pathstone Family Office LLC One Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.43% Maturity Date 5/15/2029 2024-12-31 0001976336 ck0001976336:NonControlledNonAffiliatedInvestmentsMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Telecommunication Services Guardian US Holdco LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.50% Interest Rate Floor 0.50% Interest Rate 7.81% Maturity Date 1/31/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services 1364720 B.C. LTD. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread C + 4.50% Interest Rate 7.38% Maturity Date 9/9/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products Sigma Holdco B.V. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.75% Interest Rate 7.76% Maturity Date 1/3/2028 2025-09-30 0001976336 us-gaap:EquityMethodInvestmentsMember us-gaap:FairValueInputsLevel1Member 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Crisis Prevention Institute, Inc. Commitment Type Revolver Commitment Expiration Date 4/9/2029 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:OMERSApolloInvestmentHoldingsLLCMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Air Freight and Logistics Lightbeam Bidco Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 5/6/2030 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member 2025-01-01 2025-09-30 0001976336 ck0001976336:LocalMember currency:GBP 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Continental Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 4/2/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Navex Topco, Inc. Commitment Type Revolver Commitment Expiration Date 11/09/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Nelipak Holding Company Commitment Type Revolver Commitment Expiration Date 3/26/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Power Grid Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/2/2030 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:TransactionPriceMember srt:MinimumMember us-gaap:EquityMember ck0001976336:RecentTransactionMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies The Hiller Companies, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate﻿ 9.33% Maturity Date 6/20/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services AB Centers Acquisition Corporation Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.56% Maturity Date 7/2/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Montana Buyer Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 7/22/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Capital Markets Lal Group Holdings, LLC Asset Type Common 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Carr, Riggs & Ingram Capital, L.L.C. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 11/18/2031 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated CRCI Longhorn Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/28/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance AMBA Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.66% Maturity Date 7/30/2027 2024-12-31 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:GTCRMomentumAggregatorLPMember 2025-01-01 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember srt:WeightedAverageMember us-gaap:EquityMember ck0001976336:MarketYieldAnalysisMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Tersera Therapeutics, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 4/4/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Wildcat Topco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 11/17/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Cotiviti, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.88% Maturity Date 3/26/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Vertex Service Partners, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 11/8/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products Walter Surface Technologies Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate﻿ 9.56% Maturity Date 3/31/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology DeLorean Purchaser, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 12/16/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Power Stop , LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate﻿ 9.06% Maturity Date 1/26/2029 2024-12-31 0001976336 ck0001976336:AdvisorMember 2025-01-01 2025-09-30 0001976336 ck0001976336:MorganStanleyFacilityMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Zelis Cost Management Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 2.75% Interest Rate 6.73% Maturity Date 1/17/2029 2025-09-30 0001976336 ck0001976336:BuildingProductsMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Govdelivery Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.50% Interest Rate Floor 0.75% Interest Rate 7.81% (Incl. 2.25% PIK) Maturity Date 1/17/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Fresh Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate﻿ 9.75% Maturity Date 1/24/2026 2024-12-31 0001976336 ck0001976336:ElectronicEquipmentInstrumentsAndComponentsMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Media Red Ventures, LLC (New Imagitas, Inc.) Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.88% Maturity Date 3/4/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies AWP Group Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate﻿ 9.08% Maturity Date 12/23/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Merlin Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/14/2028 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Fourth Enterprises, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/21/2027 2025-09-30 0001976336 us-gaap:RetainedEarningsMember 2025-06-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Home Service Topco IV, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 10.41% Maturity Date 12/31/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Telecommunication Services Virgin Media Bristol LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.18% Interest Rate 7.12% Maturity Date 3/31/2031 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Cold Chain Technologies, LLC Commitment Type Revolver Commitment Expiration Date 7/2/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Exactcare Parent Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.81% Maturity Date 11/5/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services Integrated Power Services Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.83% Maturity Date 11/22/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Sedgwick Claims Management Services, Inc. (Lightning Cayman Merger Sub, Ltd.) Assets Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 6.63% Maturity Date 7/31/2031 2025-09-30 0001976336 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Propio LS, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 6.00% Interest Rate Floor 0.75% Interest Rate 10.33% Maturity Date 7/17/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services STCH Acquisition Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.48% Maturity Date 10/30/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated GS Acquisitionco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/26/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services ClearCapital Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/30/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies HP RSS Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/11/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Acentra Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/20/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Quality Automotive Services, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 1/19/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies HP RSS Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate﻿ 9.06% Maturity Date 12/11/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Wildcat Topco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 11/17/2031 2024-12-31 0001976336 2024-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies CPC/Cirtec Holdings, Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 1/30/2029 2025-09-30 0001976336 us-gaap:MoneyMarketFundsMember 2025-09-30 0001976336 ck0001976336:VRSParentHoldingsLPMember us-gaap:RestrictedStockUnitsRSUMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Net Health Acquisition Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 7/5/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Bracket Intermediate Holding Corp. Commitment Type Revolver Commitment Expiration Date 2/7/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Air Freight and Logistics Lightbeam Bidco Inc Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate﻿ 9.81% Maturity Date 5/6/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Renaissance Holding Corp Asset Type First Lien Term Loan Reference Rate and Spread S + 4.00% Interest Rate 8.13% Maturity Date 4/05/2030 2025-09-30 0001976336 us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Innovative Systems L.L.C. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 8/20/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services ENT MSO, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 12/31/2028 2025-09-30 0001976336 us-gaap:UnsecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging St Athena Global LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 6/26/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering CLS Management Services, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 3/27/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Aerospace and Defense Bleriot US Bidco Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 6.48% Maturity Date 10/31/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Marina Acquisition, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.00% Interest Rate Floor 0.00% Interest Rate 8.31% Maturity Date 7/1/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated YA Intermediate Holdings II, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 10/02/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Quality Automotive Services, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 7/16/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Oil, Gas and Consumable Fuels Valicor PPC Intermediate II LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.33% Maturity Date 7/24/2028 One 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Onsite Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 6.25% Interest Rate Floor 1.00% Interest Rate 10.68% Maturity Date 12/28/2025 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Surfaceprep Buyer, LLC Commitment Type Revolver Commitment Expiration Date 2/4/2030 2024-12-31 0001976336 ck0001976336:BuildingProductsMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Merlin Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 12/14/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors BC Group Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.56% Maturity Date 12/21/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Vensure Employer Services, Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 9/27/2031 2025-09-30 0001976336 ck0001976336:NonControlledNonAffiliatedInvestmentsMember 2024-01-01 2024-09-30 0001976336 Investments—non-controlled/non-affiliated The Hiller Companies, LLC Commitment Type Revolver Commitment Expiration Date 6/20/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software North Star Acquisitionco, LLC Asset Type First Lien Term Loan Reference Rate and Spread C + 4.50% Interest Rate 7.06% Maturity Date 5/03/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Accession Risk Management, Inc Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.06% Maturity Date 11/01/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services AB Centers Acquisition Corporation Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.56% Maturity Date 7/2/2031 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:EquityMember 2025-06-30 0001976336 Investments—non-controlled/non-affiliated US Fitness Holdings, LLC Commitment Type Revolver Commitment Expiration Date 09/04/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Low Voltage Holdings Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 4/28/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Ruppert Landscape, LLC Commitment Type Revolver Commitment Expiration Date 12/03/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Seahawk Bidco, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.06% Maturity Date 12/19/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electrical Equipment Power Grid Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/2/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets The Ultimus Group Midco, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate﻿ 9.66% Maturity Date 3/7/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals DCG Acquisition Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate﻿ 9.08% Maturity Date 6/13/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Vertex Service Partners, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.08% Maturity Date 11/8/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bamboo US BidCo LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 10/1/2029 2025-09-30 0001976336 ck0001976336:SpecialDistributionPerShareMember ck0001976336:O2024Q1DividendsMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Nasuni Corporation Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.06% Maturity Date 9/10/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Athenahealth Group Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 2.75% Interest Rate 6.88% Maturity Date 2/15/2027 2025-09-30 0001976336 ck0001976336:AutomobileComponentsMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated DT Intermediate Holdco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/14/2026 2024-12-31 0001976336 ck0001976336:ConstructionEngineeringMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Cerity Partners Equity Holding LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 7/28/2029 One 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Riser Interco LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 04/16/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Technology Hardware, Storage and Peripherals TA TT Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate 9.06% Maturity Date 4/2/2029 2024-12-31 0001976336 ck0001976336:IndustrialConglomeratesMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Professional Services Monarch Buyer, Inc. Asset Type Common 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services OB Hospitalist Group, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.68% Maturity Date 9/27/2027 2024-12-31 0001976336 ck0001976336:MediaMember 2024-12-31 0001976336 ck0001976336:TransportationInfrastructureMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 us-gaap:RetainedEarningsMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Oakbridge Insurance Agency LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.08% Maturity Date 11/1/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Pegasus Transtech Holding, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 10.33% Maturity Date 11/17/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services ONS MSO, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.73% Maturity Date 7/7/2028 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated DT1 Midco Corp Commitment Type Revolver Commitment Expiration Date 12/30/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Vital Care Buyer, LLC Commitment Type Revolver Commitment Expiration Date 7/30/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Blackhawk Industrial Distribution, Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25 % Interest Rate Floor 1.00% Interest Rate 9.71% Maturity Date 9/17/2026 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Empyrean Solutions, LLC Commitment Type Revolver Commitment Expiration Date 11/26/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Zone Climate Services, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/22/2025 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Plastipak Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 6.48% Maturity Date 9/10/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors BradyPlus Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00 % Interest Rate Floor 1.00% Interest Rate 9.31% Maturity Date 10/31/2029 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember ck0001976336:MarketQuotationMember us-gaap:MarketApproachValuationTechniqueMember srt:MaximumMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Trunk Acquisition, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate 10.13% Maturity Date 2/19/2030 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Bridges Consumer Healthcare Intermediate LLC Commitment Type Revolver Commitment Expiration Date 12/22/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Merlin Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate 7.73% Maturity Date 12/14/2026 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember 2025-07-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Specialtycare, Inc. Commitment Type Revolver Commitment Expiration Date 12/18/2029 2025-09-30 0001976336 ck0001976336:TransportationInfrastructureMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services MRO Corporation, Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 6/9/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Kwol Acquisition, Inc. Commitment Type Revolver Commitment Expiration Date 12/12/2029 2025-09-30 0001976336 us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Media Planet US Buyer LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 6.98% Maturity Date 2/7/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Cold Chain Technologies, LLC One Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.06% Maturity Date 7/2/2026 1 2024-12-31 0001976336 Investments—non-controlled/non-affiliated W2O Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 6/12/2028 2024-12-31 0001976336 us-gaap:CommonStockMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services BigTime Software, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate Floor 0.00% Interest Rate 10.58% Maturity Date 6/30/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Ryan, LLC Commitment Type Revolver Commitment Expiration Date 11/14/2028 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Aprio Advisory Group, LLC Commitment Type Revolver Commitment Expiration Date 8/1/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Edgeco Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 6/1/2028 2025-09-30 0001976336 currency:CAD 2024-12-31 0001976336 Investments—non-controlled/non-affiliated VS Buyer, LLC Commitment Type Revolver Commitment Expiration Date 04/12/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bridges Consumer Healthcare Intermediate LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.56% Maturity Date 12/20/2031 2024-12-31 0001976336 ck0001976336:ConstructionMaterialsMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Tempo Buyer Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 8/26/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging CFs Brands, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.08% Maturity Date 10/2/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated WRE Holding Corp. Commitment Type Revolver Commitment Expiration Date 07/02/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Onsite Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.75% Interest Rate 11.04% PIK Maturity Date 12/28/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services US Fitness Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 9/4/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Amerilife Holdings LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 8/31/2028 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember srt:WeightedAverageMember us-gaap:UnsecuredDebtMember ck0001976336:MarketYieldAnalysisMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Ground Penetrating Radar Systems, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/3/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Mastery Acquisition Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.50% Maturity Date 9/7/2029 2024-12-31 0001976336 ck0001976336:EnergyEquipmentAndServicesMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:TransactionPriceMember us-gaap:EquityMember ck0001976336:RecentTransactionMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Analytic Partners, LP Commitment Type Revolver Commitment Expiration Date 4/4/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Minotaur Acquisition, Inc. One Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.33% Maturity Date 6/3/2030 2024-12-31 0001976336 ck0001976336:GroundTransportationMember 2024-12-31 0001976336 us-gaap:ChemicalsSectorMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Project Accelerate Parent LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.58% Maturity Date 2/22/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Spirit RR Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 09/13/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Noble Midco 3 Limited Asset Type First Lien Revolver Reference Rate and Spread First Lien Revolver S + 4.75% Interest Rate 8.73% Maturity Date 12/10/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Enthusiast Auto Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 12/19/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Southpaw Ap Buyer, LLC Commitment Type Revolver Commitment Expiration Date 03/02/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Technology Hardware, Storage and Peripherals Victors Purchaser, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 8/15/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Hyphen Solutions, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 8/6/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated AQA Acquisition Holding, Inc. Commitment Type Revolver Commitment Expiration Date 3/3/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Dynatect Group Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate 8.91% Maturity Date 9/30/2026 2024-12-31 0001976336 us-gaap:HealthcareSectorMember 2024-12-31 0001976336 us-gaap:UnsecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Aurora Plastics, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.98% Maturity Date 8/12/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Valet Waste Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.08% Maturity Date 05/01/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Soleo Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 1/30/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging St Athena Global LLC Asset Type First Lien Term Loan Reference Rate and Spread SON + 5.25% Interest Rate Floor 0.00% Interest Rate 9.95% Maturity Date 6/26/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services DT1 Midco Corp Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 12/30/2031 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Truck-Lite Co., LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.88% Maturity Date 2/13/2032 2025-09-30 0001976336 currency:GBP 2024-01-01 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services CFGI Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 11/02/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Eyesouth Eye Care Holdco, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.73% Maturity Date 10/5/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Oil, Gas and Consumable Fuels Valicor PPC Intermediate II LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 7/24/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Analytic Partners, LP Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 4/4/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Concord Global Acquisition, LLC, Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/29/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Victory Buyer LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate Floor 0.00% Interest Rate 8.08% Maturity Date 11/19/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Trunk Acquisition, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 10.46% Maturity Date 2/19/2030 2024-12-31 0001976336 ck0001976336:APCFFundingSPVLLCAndAPCFMasterfundLLCMember 2024-11-05 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Emburse, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 5/28/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Rimkus Consulting Group, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.50% Maturity Date 4/1/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Navex Topco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.08% Maturity Date 11/7/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Oeconnection LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.00% Interest Rate Floor 0.00% Interest Rate 8.33% Maturity Date 4/22/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Belmont Instrument, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 8/19/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Onyx-Fire Protection Services Inc. Asset Type First Lien Revolver Reference Rate and Spread C + 4.50% Interest Rate 7.06% Maturity Date 7/31/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Power Grid Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/02/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Telecommunication Services Zacapa S.a r.l. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.75% Interest Rate 7.73% Maturity Date 3/22/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Simplicity Financial Marketing Group Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/31/2031 2025-09-30 0001976336 ck0001976336:WirelessTelecommunicationServicesMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 ck0001976336:ProfessionalServicesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction Materials Red Fox CD Acquisition Corporation Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 0.00% Interest Rate 10.31% Maturity Date 3/4/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Software Scorpion Holdings, LLC Asset Type Preferred Interest Rate 8.00% PIK 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Net Health Acquisition Corp. Commitment Type Revolver Commitment Expiration Date 07/07/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Anchor Packaging, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.25% Interest Rate 7.23% Maturity Date 4/17/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Wu Holdco, Inc. Commitment Type Revolver Commitment Expiration Date 04/19/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated MRO Corporation Commitment Type Revolver Commitment Expiration Date 06/09/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Edgeco Buyer, Inc. One Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate﻿ 8.81% Maturity Date 6/1/2028 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember us-gaap:MarketApproachValuationTechniqueMember ck0001976336:MarketQuotationMember 2024-12-31 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:KPCICo-Invest2LPMember 2025-01-01 2025-09-30 0001976336 ck0001976336:AdviserMember ck0001976336:IncomeBasedIncentiveFeesMember 2025-07-01 2025-09-30 0001976336 ck0001976336:ElectronicEquipmentInstrumentsAndComponentsMember us-gaap:EquitySecuritiesMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Ave Holdings III, Corp Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 2/25/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Technology Hardware, Storage and Peripherals Victors Purchaser, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 8/15/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Media Getty Images, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.00% Interest Rate 8.85% Maturity Date 2/19/2026 2024-12-31 0001976336 ck0001976336:CommonClassDMember 2025-11-13 0001976336 ck0001976336:O2024M2DividendsMember ck0001976336:SpecialDistributionPerShareMember 2025-01-01 2025-09-30 0001976336 ck0001976336:ManagementFeeAgreementMember 2024-01-01 2024-09-30 0001976336 Investments—non-controlled/non-affiliated Pathstone Family Office LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/22/2026 2024-12-31 0001976336 us-gaap:FinancialSupportWaivedFeesMember 2024-07-01 2024-09-30 0001976336 Investments – Non-controlled/non-affiliated Carr, Riggs & Ingram Capital, L.L.C. Commitment Type Revolver Commitment Expiration Date 11/18/2031 2025-09-30 0001976336 ck0001976336:CommonClassSMember 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated DCG Acquisition Corp. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/13/2026 2025-09-30 0001976336 us-gaap:ShortTermInvestmentsMember 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated DT1 Midco Corp Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/4/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Ave Holdings III, Corp Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.60% Maturity Date 2/25/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging PLZ Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.75% Interest Rate Floor 0.75% Interest Rate 8.20% Maturity Date 8/3/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Hotels, Restaurants and Leisure Southpaw Ap Buyer, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.71% Maturity Date 3/2/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services MHE Intermediate Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 10.46% Maturity Date 7/21/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products WPP Bullet Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.56% Maturity Date 12/7/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Routeware, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 8.00% Interest Rate Floor 1.00% Interest Rate 12.31% Maturity Date 9/18/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Capital Markets Lal Group Holdings, LLC Asset Type Preferred 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Ryan, LLC Commitment Type Revolver Commitment Expiration Date 11/14/2028 2024-12-31 0001976336 ck0001976336:IncentiveFeePaymentConditionOneMember srt:MinimumMember 2025-01-01 2025-09-30 0001976336 ck0001976336:AirFreightAndLogisticsMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 ck0001976336:TransactionPriceMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Specialty Retail SCW Holdings III Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 3/17/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Movati Athletic (Group) Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 05/30/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Home Service Topco IV, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.58% Maturity Date 12/31/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Aspen Medical Products, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.08% Maturity Date 6/10/2028 One 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Air Freight and Logistics Kenco PPC Buyer LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 11/15/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated North Star Acquisitionco, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 05/01/2026 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Analytic Partners, LP Commitment Type Revolver Commitment Expiration Date 4/04/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Victors Purchaser, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/15/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Dwyer Instruments, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/20/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Spirit RR Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.00% Interest Rate Floor 0.75% Interest Rate 8.31% Maturity Date 9/13/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services CVP Holdco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 6/28/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Trimech Acquisition Corp. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/15/2026 2024-12-31 0001976336 ck0001976336:SoftwareMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Marina Acquisition, Inc. Commitment Type Revolver Commitment Expiration Date 7/1/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components JHCC Holdings LLC Asset Type First Lien Revolver Reference Rate and Spread P + 5.50% Interest Rate Floor 0.00% Interest Rate﻿ 13.00% Maturity Date 9/9/2027 2024-12-31 0001976336 country:CA 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electrical Equipment TPC Engineering Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.58% Maturity Date 2/16/2027 2024-12-31 0001976336 currency:EUR country:US 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Carr, Riggs & Ingram Capital, L.L.C. Commitment Type Revolver Commitment Expiration Date 11/18/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Empower Payments Investor, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.83% Maturity Date 3/12/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services VPP Intermediate Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.18% Maturity Date 12/1/2027 One 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Allworth Financial Group, L.P. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate﻿ 9.33% Maturity Date 12/23/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Marina Acquisition, Inc. Assets Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/1/2030 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Artifact Bidco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/27/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components JHCC Holdings LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/9/2027 2025-09-30 0001976336 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueInputsLevel1Member 2025-09-30 0001976336 Investments—non-controlled/non-affiliated AB Centers Acquisition Corporation Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/2/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Nelipak Holding Company Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 3/26/2031 2025-09-30 0001976336 ck0001976336:LifeSciencesToolsServicesMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Trilon Group, LLC Commitment Type Revolver Commitment Expiration Date 5/25/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Welocalize, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.56% Maturity Date 6/23/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services DCA Investment Holding LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.41% Interest Rate 10.38% Maturity Date 4/3/2028 2025-09-30 0001976336 us-gaap:EquityMethodInvestmentsMember 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember us-gaap:EquityMember ck0001976336:MarketYieldAnalysisMember srt:MaximumMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated The Ultimus Group Midco, LLC Commitment Type Revolver Commitment Expiration Date 3/7/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Household Products Wu Holdco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate 9.81% Maturity Date 3/26/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated US Fitness Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/4/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Onyx-Fire Protection Services Inc. Commitment Type Revolver Commitment Expiration Date 7/31/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Ruppert Landscape, LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/3/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services ClearCapital Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/30/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Blackhawk Industrial Distribution, Inc. Commitment Type Revolver Commitment Expiration Date 9/17/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Blackhawk Industrial Distribution, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 9/17/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated FR Vision Holdings Inc Commitment Type Revolver Commitment Expiration Date 1/22/2030 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Americhem, Inc. Commitment Type Revolver Commitment Expiration Date 3/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services ONS MSO, LLC Asset Type First Lien Revolver Reference Rate and Spread P + 5.25% Interest Rate Floor 0.00% Interest Rate 12.75% Maturity Date 7/8/2026 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Arrow Management Acquisition, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/27/2027 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Eagan Parent, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/8/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Personal Care Products Swanson Health Products, Incorporated Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.99% Maturity Date 6/30/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Ruppert Landscape, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.08% Maturity Date 12/1/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Fitness International LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 2/12/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Arax MidCo, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate﻿ 10.08% Maturity Date 4/11/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology DeLorean Purchaser, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 12/16/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies FL Hawk Intermediate Holdings, Inc. One Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate﻿ 8.81% Maturity Date 2/22/2030 2024-12-31 0001976336 ck0001976336:MediaMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals DCG Acquisition Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate﻿ 8.83% Maturity Date 6/13/2031 2024-12-31 0001976336 ck0001976336:TextilesApparelAndLuxuryGoodsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Empyrean Solutions, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.06% Maturity Date 11/26/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Textiles, Apparel and Luxury Goods Gloves Buyer, Inc. Asset Type Common 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance AMBA Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.33% Maturity Date 7/30/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated DS Admiral Bidco, LLC Commitment Type Revolver Commitment Expiration Date 6/26/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Vensure Employer Services, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 09/27/2026 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated BC Group Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/21/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies CPC/Cirtec Holdings, Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 1/30/2029 2024-12-31 0001976336 ck0001976336:SpecialtyRetailMember 2024-12-31 0001976336 ck0001976336:AdviserMember 2025-01-01 2025-09-30 0001976336 ck0001976336:AirFreightLogisticsMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Invictus Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 6/3/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Concord Global Acquisition, LLC, Asset Type First Lien Revolver Reference Rate and Spread S + 0.00% Interest Rate Floor 0.00% Interest Rate 4.33% Maturity Date 12/29/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Artifact Bidco, Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 7/28/2031 2025-09-30 0001976336 ck0001976336:UnfundedInvestmentCommitmentMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Caerus US 1 Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 5/25/2029 2024-12-31 0001976336 ck0001976336:MorganStanleyFacilityMember srt:MinimumMember 2025-03-18 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bamboo US BidCo LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.56% Maturity Date 9/30/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Surfaceprep Buyer, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 2/2/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Simplicity Financial Marketing Group Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.25% Maturity Date 12/31/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated CVP Holdco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/29/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Vessco Midco Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.25% Interest Rate Floor 0.75% Interest Rate 8.58% Maturity Date 7/24/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Empower Payments Investor, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.58% Maturity Date 3/12/2031 2024-12-31 0001976336 ck0001976336:MorganStanleyFacilityMember srt:MaximumMember 2025-03-18 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Nasuni Corporation Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.06% Maturity Date 9/10/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated 365 Retail Markets, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/15/2025 2024-12-31 0001976336 ck0001976336:HouseholdDurablesMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bamboo US BidCo LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/30/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging CFs Brands, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.33% Maturity Date 10/2/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated VRS Buyer, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 07/18/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Phoenix 1 Buyer Corporation Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.83% Maturity Date 11/20/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Resonetics, LLC Commitment Type Revolver Commitment Expiration Date 6/18/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Onit, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 1/27/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Clyde Industries Us Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.46% Maturity Date 12/18/2025 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Safety Borrower Holdings LLC Commitment Type Revolver Commitment Expiration Date 9/1/2027 2024-12-31 0001976336 us-gaap:RetainedEarningsMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated CFs Brands, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/2/2025 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Flint Opco, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/1/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Aprio Advisory Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 8/1/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated North Star Acquisitionco, LLC Commitment Type Revolver Commitment Expiration Date 05/03/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Apex Service Partners, LLC Commitment Type Revolver Commitment Expiration Date 10/24/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Ensemble RCM, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.00% Interest Rate 6.98% Maturity Date 6/27/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Trimech Acquisition Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.06% Maturity Date 3/10/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Life Sciences Tools & Services Sotera Health Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate Floor 0.00% Interest Rate 7.56% Maturity Date 5/30/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated MDC Interior Acquisition Inc Commitment Type Revolver Commitment Expiration Date 04/26/2030 2025-09-30 0001976336 us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Goldeneye Parent, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 3/31/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated HT Intermediary III, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/13/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services IG Investments Holdings, LLC Assets Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 9/22/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Validity, Inc. Commitment Type Revolver Commitment Expiration Date 04/10/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Minotaur Acquisition, Inc. Commitment Type Revolver Commitment Expiration Date 6/3/2030 2024-12-31 0001976336 Short-term Investments BlackRock Liquidity T-Fund - Institutional Shares 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Enthusiast Auto Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 12/19/2026 2025-09-30 0001976336 ck0001976336:AdviserMember ck0001976336:IncomeBasedIncentiveFeesMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services USHV Management, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 9/8/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products WST USA Holdco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread 4.75% Interest Rate 8.83% Maturity Date 3/31/2027 2025-09-30 0001976336 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueInputsLevel3Member 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated CVR Management, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 1/4/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Tank Holding Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.98% Maturity Date 3/31/2028 2025-09-30 0001976336 us-gaap:SecuredDebtMember ck0001976336:ContainersAndPackagingMember 2024-12-31 0001976336 currency:CAD 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Premise Health Holding Corp. Commitment Type Revolver Commitment Expiration Date 3/1/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Valeris, Inc., Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 9/19/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets The Ultimus Group Midco, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Empower Payments Investor, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 3/12/2031 One 2025-09-30 0001976336 2024-01-01 2024-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Medallia, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 10.45% (Incl. 4.00% PIK) Maturity Date 10/29/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Net Health Acquisition Corp. Commitment Type Revolver Commitment Expiration Date 7/3/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Kriv Acquisition Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/26/2026 2024-12-31 0001976336 ck0001976336:BaseDistributionPerShareMember ck0001976336:S2024M5DividendsMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated RFI Buyer, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 08/29/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated USRP Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/31/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Tersera Therapeutics, LLC Commitment Type Revolver Commitment Expiration Date 04/04/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Vessco Midco Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 07/24/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Accession Risk Management, Inc Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 11/01/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Trilon Group, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 03/13/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services ClearCapital Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/30/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Gloves Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 5/22/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated The Ultimus Group Midco, LLC Commitment Type Revolver Commitment Expiration Date 07/01/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services Phillips & Temro Industries Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 3/12/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Oeconnection LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/30/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Concord Global Acquisition, LLC, Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/28/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Quality Automotive Services, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 7/16/2027 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Marina Acquisition, Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/1/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Swoop Intermediate III, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 4/12/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Navex Topco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 11/08/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Empyrean Solutions, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/25/2026 2024-12-31 0001976336 ck0001976336:FinancialServicesMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Empower Payments Investor, LLC Commitment Type Revolver Commitment Expiration Date 3/12/2030 2025-09-30 0001976336 ck0001976336:HealthCareTechnologyMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 ck0001976336:ConstructionMaterialsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 country:US 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Madison IAQ LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate 7.10% Maturity Date 5/6/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Continental Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 4/02/2031 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Arax MidCo, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/30/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Imagine 360 LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 9/30/2028 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated DT Intermediate Holdco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/14/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Cerity Partners Equity Holding LLC One Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.56% Maturity Date 7/28/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Alcor Scientific LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate 8.93% Maturity Date 1/31/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services OIS Management Services, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.06% Maturity Date 10/24/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated SCW Holdings III Corp. Commitment Type Revolver Commitment Expiration Date 03/17/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Personal Care Products Swanson Health Products, Incorporated Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate Floor 1.00% Interest Rate 10.82% Maturity Date 6/30/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Onit, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 1/27/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Mclarens Midco Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 12/19/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Resonetics, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate 7.73% Maturity Date 6/18/2029 2025-09-30 0001976336 ck0001976336:TextilesApparelAndLuxuryGoodsMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:EquityMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Integrity Marketing Acquisition, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 8/25/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Continental Buyer, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/3/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Highline Aftermarket Acquisition, LLC Commitment Type Revolver Commitment Expiration Date 8/10/2027 2024-12-31 0001976336 ck0001976336:NonControlledNonAffiliatedInvestmentsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Eyesouth Eye Care Holdco, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.93% Maturity Date 10/5/2029 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Health Buyer LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/15/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies CPC/Cirtec Holdings, Inc Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 10/31/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated VPP Intermediate Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 01/19/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Zone Climate Services, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.21% Maturity Date 3/9/2028 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:UnsecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Life Sciences Tools & Services Kwol Acquisition, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/12/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Alert Media, Inc. Commitment Type Revolver Commitment Expiration Date 4/12/2027 2024-12-31 0001976336 us-gaap:EquitySecuritiesMember ck0001976336:ContainersAndPackagingMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services CVP Holdco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 6/28/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Petrus Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 10/17/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Spartan Bidco PTY LTD Asset Type First Lien Revolver Reference Rate and Spread S + 6.50% Interest Rate 10.58% Maturity Date 1/24/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Eos Fitness Opco Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.56% Maturity Date 1/5/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services CRCI Longhorn Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 8/27/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Excelitas Technologies Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.58% Maturity Date 8/12/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Artifact Bidco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/27/2027 2024-12-31 0001976336 us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated ABC Legal Holdings, LLC Commitment Type Revolver Commitment Expiration Date 8/13/2032 2025-09-30 0001976336 ck0001976336:ElectronicEquipmentInstrumentsAndComponentsMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies WRE Holding Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.25% Maturity Date 7/2/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Storable, Inc. Commitment Type Revolver Commitment Expiration Date 04/16/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Electronic Equipment, Instruments and Components Wildcat Topco, Inc. Asset Type LP Units 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember srt:WeightedAverageMember ck0001976336:TransactionPriceMember ck0001976336:RecentTransactionMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Oeconnection LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/30/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Media Learfield Communications, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.25% Interest Rate Floor 0.00% Interest Rate 7.58% Maturity Date 12/31/2027 2024-12-31 0001976336 us-gaap:AdditionalPaidInCapitalMember 2025-07-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Wireless Telecommunication Services CCI Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 5/13/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Mclarens Midco Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.81% Maturity Date 12/19/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Eos Fitness Opco Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.06% Maturity Date 1/5/2028 2024-12-31 0001976336 ck0001976336:HealthCareTechnologyMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Dwyer Instruments, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/20/2029 2025-09-30 0001976336 ck0001976336:SoftwareMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Trimech Acquisition Corp. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 3/10/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Vertex Service Partners, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 10/2/2026 2024-12-31 0001976336 us-gaap:SecuredDebtMember ck0001976336:PharmaceuticalsMember 2025-09-30 0001976336 us-gaap:RetainedEarningsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Technology Hardware, Storage and Peripherals Ubeo, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 7/3/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Merlin Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate 9.06% Maturity Date 12/14/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Southern Veterinary Partners, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 6.48% Maturity Date 12/4/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Excelitas Technologies Corp. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/1/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Spirit RR Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/19/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets HighTower Holding, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.00% Interest Rate 6.98% Maturity Date 2/1/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated YA Intermediate Holdings II, LLC Commitment Type Revolver Commitment Expiration Date 10/1/2031 2024-12-31 0001976336 ck0001976336:GasUtilitiesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Neon Maple Purchaser Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate Floor 0.00% Interest Rate 7.33% Maturity Date 11/15/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Frazier & Deeter Advisory, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 5/03/2032 2025-09-30 0001976336 ck0001976336:EnergyEquipmentAndServicesMember 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:TransactionPriceMember srt:MinimumMember us-gaap:EquityMember ck0001976336:RecentTransactionMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Arrow Management Acquisition, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/26/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Quality Automotive Services, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/16/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Spirit RR Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 9/13/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Premise Health Holding Corp. Commitment Type Revolver Commitment Expiration Date 03/01/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Oil, Gas and Consumable Fuels Edpo, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.83% Maturity Date 12/8/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Aprio Advisory Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 8/1/2031 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Hasa Acquisition, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate﻿ 8.81% Maturity Date 1/10/2029 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Eclipse Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 9/8/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Imagine 360 LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 9/30/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Kwol Acquisition, Inc. Commitment Type Revolver Commitment Expiration Date 12/12/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Cop Hometown Acquisitions, Inc. (fka Cop Airco Acquisitions, Inc.) Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 7/16/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies HeartLand PPC Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate﻿ 9.56% Maturity Date 12/12/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Transportation Infrastructure Psc Parent, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 4/3/2031 2025-09-30 0001976336 ck0001976336:S2024M3DividendsMember ck0001976336:SpecialDistributionPerShareMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products BCPE North Star US Holdco 2, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate Floor 0.00% Interest Rate 8.08% Maturity Date 6/10/2026 2024-12-31 0001976336 ck0001976336:IncentiveFeePaymentConditionTwoMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electrical Equipment TPC Engineering Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.73% Maturity Date 2/16/2027 Two 2025-09-30 0001976336 Investments—non-controlled/non-affiliated YLG Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/23/2030 2024-12-31 0001976336 ck0001976336:CommonClassIMember 2023-08-29 0001976336 us-gaap:SecuredDebtMember us-gaap:FairValueInputsLevel1Member 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Riser Interco LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 10/31/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products Surewerx Purchaser III Inc Asset Type First Lien Term Loan Reference Rate and Spread 5.25% Interest Rate 9.23% Maturity Date 12/28/2029 2025-09-30 0001976336 ck0001976336:O2024M1DividendsMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Rimkus Consulting Group, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.50% Maturity Date 4/1/2031 2024-12-31 0001976336 us-gaap:EquitySecuritiesMember ck0001976336:HealthcareProvidersAndServicesMember 2025-09-30 0001976336 ck0001976336:DistributorsMember 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember srt:MinimumMember us-gaap:MarketApproachValuationTechniqueMember ck0001976336:MarketQuotationMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services VS Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 2.25% Interest Rate 6.23% Maturity Date 4/12/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Hyphen Solutions, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 8/6/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Keng Acquisition, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.33% Maturity Date 8/1/2029 2024-12-31 0001976336 us-gaap:SecuredDebtMember ck0001976336:InsuranceMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Air Freight and Logistics Lightbeam Bidco Inc Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 5/6/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Vensure Employer Services, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.31% Maturity Date 9/27/2031 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Apex Service Partners, LLC Commitment Type Revolver Commitment Expiration Date 10/24/2029 2025-09-30 0001976336 ck0001976336:FoodProductsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Skopima Consilio Parent LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 3.75% Interest Rate 7.88% Maturity Date 5/12/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Puma Buyer, LLC Commitment Type Revolver Commitment Expiration Date 03/29/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Cold Chain Technologies, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.73% Maturity Date 7/2/2026 Three 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies YLG Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/23/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Blackhawk Industrial Distribution, Inc Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25 % Interest Rate Floor 1.00% Interest Rate 9.71% Maturity Date 9/17/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology IMO Investor Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.85% Maturity Date 5/11/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services USHV Management, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 9/8/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies WRE Holding Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.85% Maturity Date 7/2/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Ground Transportation AMS Parent, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.45% Maturity Date 10/25/2028 2024-12-31 0001976336 us-gaap:SecuredDebtMember ck0001976336:ContainersAndPackagingMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging St Athena Global LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 6/26/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Component Hardware Group, Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00 % Interest Rate Floor 1.00% Interest Rate 9.46% Maturity Date 7/1/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Essential Services Holding Corporation Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/17/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies AWP Group Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate﻿ 9.08% Maturity Date 12/23/2030 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Bamboo US BidCo LLC Commitment Type Revolver Commitment Expiration Date 9/30/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Aprio Advisory Group, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/2/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Valet Waste Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate 10.13% Maturity Date 5/1/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Transportation Infrastructure Psc Parent, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 4/3/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Ascend Learning, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 12/11/2028 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember us-gaap:SecuredDebtMember ck0001976336:MarketYieldAnalysisMember 2024-12-31 0001976336 ck0001976336:ProfessionalServicesMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:ComparableCompanyAnalysisMember us-gaap:EquityMember us-gaap:MeasurementInputEbitdaMultipleMember srt:MaximumMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Specialty Retail SCW Holdings III Corp. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 3/17/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services SpecialtyCare, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 12/18/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services United Digestive MSO Parent, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.06% Maturity Date 3/30/2029 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember ck0001976336:ComparableCompanyAnalysisMember us-gaap:EquityMember us-gaap:MeasurementInputEbitdaMultipleMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Ground Penetrating Radar Systems, LLC Commitment Type Revolver Commitment Expiration Date 4/2/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Beyond Risk Parent Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.73% Maturity Date 10/8/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated SurfacePrep Buyer, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 01/15/2027 2025-09-30 0001976336 ck0001976336:ElectronicEquipmentInstrumentsAndComponentsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Diversified Consumer Services Seahawk Holdings, LP Asset Type Preferred 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Noble Midco 3 Limited Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/12/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Clydesdale Acquisition Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/1/2032 2025-09-30 0001976336 us-gaap:UnsecuredDebtMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Oeconnection LLC Commitment Type Revolver Commitment Expiration Date 04/22/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Zinc Buyer Corporation Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/24/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Disa Holdings Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 9/9/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Oeconnection LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 4/22/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Apex Service Partners, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 11.59% Interest Rate Floor 1.00% Interest Rate 9.81 (Include 2.00% PIK)% Maturity Date 10/24/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Applied Technical Services, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 4/8/2031 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember us-gaap:MarketApproachValuationTechniqueMember ck0001976336:MarketQuotationMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Enthusiast Auto Holdings, LLC Commitment Type Revolver Commitment Expiration Date 12/19/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated The GI Alliance Management, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/7/2026 2024-12-31 0001976336 ck0001976336:TotalInvestmentsFairValueMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Urology Management Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.81% Maturity Date 6/15/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Bamboo US BidCo LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/29/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies HP RSS Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/11/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies CDL Parent, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.46% Maturity Date 12/07/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Edpo, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/29/2027 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember srt:WeightedAverageMember ck0001976336:MarketQuotationMember us-gaap:MarketApproachValuationTechniqueMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Monarch Buyer, Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 6/2/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated WPP Bullet Buyer, LLC Commitment Type Revolver Commitment Expiration Date 12/7/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Transportation Infrastructure VRS Parent Holdings LP Asset Type Common 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services ImageFirst Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.25% Interest Rate 7.23% Maturity Date 3/12/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services US Fitness Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 9/4/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery RFI Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.58% Maturity Date 8/5/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software e-Discovery AcquireCo, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.98% Maturity Date 8/29/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bridges Consumer Healthcare Intermediate LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.10% Maturity Date 12/22/2031 2025-09-30 0001976336 ck0001976336:HotelsRestaurantsAndLeisureMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 ck0001976336:DiversifiedTelecommunicationServicesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products Chg Ppc Parent LLC Asset Type First Lien Revolver Reference Rate and Spread S + 2.75% Interest Rate Floor 0.00% Interest Rate 7.08% Maturity Date 12/8/2026 2024-12-31 0001976336 ck0001976336:SharesRepurchaseProgramMember srt:MaximumMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electrical Equipment TPC Engineering Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate 9.83% Maturity Date 2/16/2028 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated HP RSS Buyer, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/2/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Healthcare Providers and Services EPFS Acquisition Holdings, LP Asset Type Common 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Blackbird Purchaser, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 12/19/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Net Health Acquisition Corp. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 7/7/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Blackbird Purchaser, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 12/19/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services VPP Intermediate Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.00% Interest Rate 10.18% Maturity Date 12/1/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Accession Risk Management, Inc Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.29% Maturity Date 11/01/2029 2024-12-31 0001976336 ck0001976336:AdvisorMember 2024-07-01 2024-09-30 0001976336 Investments—non-controlled/non-affiliated Soleo Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 01/30/2032 2025-09-30 0001976336 ck0001976336:S2024M1DividendsMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Americhem, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 3/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Nelipak Holding Company Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 3/26/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Continental Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 4/2/2031 2025-09-30 0001976336 us-gaap:FinancialSupportWaivedFeesMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Ares Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 11/28/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services ONS MSO, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 6.25% Interest Rate 10.23% Maturity Date 7/7/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services IG Investments Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.00% Interest Rate Floor 0.75% Interest Rate 8.31% Maturity Date 9/22/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Eclipse Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 0.50% Interest Rate 9.08% Maturity Date 9/5/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services JKC Parent, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 2/13/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Trilon Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 5/29/2029 Two 2025-09-30 0001976336 us-gaap:CommercialAndIndustrialSectorMember 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member 2025-06-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Essential Services Holding Corporation Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.31% Maturity Date 6/17/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Zinc Buyer Corporation Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 7/24/2031 2024-12-31 0001976336 ck0001976336:WirelessTelecommunicationServicesMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Thunder Purchaser, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 6/30/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Noble Midco 3 Limited Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.56% Maturity Date 12/11/2030 2024-12-31 0001976336 ck0001976336:SoftwareMember us-gaap:EquitySecuritiesMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Energy Equipment and Services CRCI Longhorn Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 8/27/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Specialty Retail SCW Holdings III Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 3/17/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Cop Hometown Acquisitions, Inc. (fka Cop Airco Acquisitions, Inc.) Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.71% Maturity Date 7/16/2027 One 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Industrial Conglomerates Harvey Tool Company, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 8/6/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Clydesdale Acquisition Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 3.25% Interest Rate 7.38% Maturity Date 4/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Trilon Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.96% Maturity Date 5/25/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Red Fox CD Acquisition Corporation Commitment Type Delayed Draw Term Loan Commitment Expiration Date 03/04/2030itment Type Delayed Draw Term Loan Commitment Expiration Date 11/23/2026 2025-09-30 0001976336 us-gaap:InvestmentUnaffiliatedIssuerMember us-gaap:UnsecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Net Health Acquisition Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 7/7/2031 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Hyphen Solutions, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.93% Maturity Date 10/27/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software KPA Parent Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.83% Maturity Date 7/17/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Health Buyer LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 4/27/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Navex Topco, Inc. Commitment Type Revolver Commitment Expiration Date 11/9/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated CFGI Holdings, LLC Commitment Type Revolver Commitment Expiration Date 11/2/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Applied Technical Services, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.21% Maturity Date 12/29/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services IG Investments Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 9/22/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated VPP Intermediate Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 2/7/2025 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Trimech Acquisition Corp. Commitment Type Revolver Commitment Expiration Date 03/10/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets The Ultimus Group Midco, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Banker's Toolbox, Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 7/27/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services SM Wellness Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 9.07% Maturity Date 4/17/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services DT1 Midco Corp Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 12/30/2031 2025-09-30 0001976336 currency:GBP 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Unlimited Technology Holdings, LLC Commitment Type Revolver Commitment Expiration Date 03/12/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Empower Payments Investor, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 3/12/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Trading Companies and Distributors Kele Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 2/20/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Trilon Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 5/29/2029 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Ridge Trail US Bidco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate Floor 0.00% Interest Rate 8.81% Maturity Date 3/31/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Edgeco Buyer, Inc. Two Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate﻿ 8.81% Maturity Date 6/1/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Dwyer Instruments, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/21/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Victors Purchaser, LLC Commitment Type Revolver Commitment Expiration Date 8/15/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Media Klick Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 3/31/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products MDC Interior Acquisition Inc Asset Type First Lien Term Loan Reference Rate and Spread 5.00% Interest Rate 8.98% Maturity Date 4/26/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated STCH Acquisition Inc. Commitment Type Revolver Commitment Expiration Date 10/30/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services ABC Legal Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 8/13/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Health Care Technology Novacap TMT VI Co-Investment (Invita) LP Asset Type Common 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies YLG Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.06% Maturity Date 12/23/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Foundation Risk Partners, Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 10/29/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Intel 471 INC. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/27/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Truck-Lite Co., LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 2/13/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Hydraulic Technologies USA LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.81% Maturity Date 6/3/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software ESG Investments, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 3/11/2028 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated BCPE North Star US Holdco 2, Inc. Commitment Type Revolver Commitment Expiration Date 3/10/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Industrial Conglomerates Harvey Tool Company, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 8/6/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Minotaur Acquisition, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/4/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Aprio Advisory Group, LLC Commitment Type Revolver Commitment Expiration Date 8/1/2031 2024-12-31 0001976336 us-gaap:SecuredDebtMember ck0001976336:TechnologyHardwareStorageAndPeripheralsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Cop Hometown Acquisitions, Inc. (fka Cop Airco Acquisitions, Inc.) Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.71% Maturity Date 7/16/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated HSI Halo Acquisition Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/28/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Wealth Enhancement Group, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/30/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Wealth Enhancement Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.33% Maturity Date 10/2/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Packaging Coordinators PG Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate Floor 1.00% Interest Rate 8.50% Maturity Date 3/2/2026 2024-12-31 0001976336 ck0001976336:AdviserMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Media MH Sub I, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.25% Interest Rate Floor 0.00% Interest Rate 8.58% Maturity Date 12/11/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors BradyPlus Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 10/31/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Swoop Intermediate III, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 10/12/2027 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:ComparableCompanyAnalysisMember us-gaap:EquityMember us-gaap:MeasurementInputEbitdaMultipleMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Lido Advisors, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 5/10/2032 Two 2025-09-30 0001976336 ck0001976336:GroundTransportationMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Galway Borrower LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.81% Maturity Date 9/29/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electrical Equipment Virgin Infinite Bidco LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate Floor 1.00% Interest Rate 10.56% Maturity Date 3/2/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Americhem, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 3/1/2032 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Carr, Riggs & Ingram Capital, L.L.C. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 11/18/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies High Bar Brands Operating, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate﻿ 9.56% Maturity Date 12/19/2029 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Lido Advisors, LLC Commitment Type Revolver Commitment Expiration Date 5/10/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology IMO Investor Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.85% Maturity Date 5/11/2029 2025-09-30 0001976336 ck0001976336:NonControlledNonAffiliatedInvestmentsMember 2025-07-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Denali Buyerco LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/15/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Oil, Gas and Consumable Fuels Valicor PPC Intermediate II LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 1/24/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated THG Acquisition, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 10/30/2026 2024-12-31 0001976336 us-gaap:CommonStockMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Nasuni Corporation Commitment Type Revolver Commitment Expiration Date 9/10/2030 2024-12-31 0001976336 ck0001976336:EnergyEquipmentAndServicesMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products Fiesta Purchaser, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.88% Maturity Date 2/12/2031 2025-09-30 0001976336 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services FSHS I, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.08% Maturity Date 11/18/2028 2024-12-31 0001976336 ck0001976336:HouseholdDurablesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software North Star Acquisitionco, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 10.31% Maturity Date 5/3/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Ridge Trail US Bidco, Inc. Commitment Type Revolver Commitment Expiration Date 03/31/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Trucordia Insurance Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate 7.38% Maturity Date 6/17/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Kriv Acquisition Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/31/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Patriot Growth Insurance Services, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.46% Maturity Date 10/16/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated AWP Group Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/23/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Phantom Purchaser, Inc. Commitment Type Revolver Commitment Expiration Date 09/19/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated SCW Holdings III Corp. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 03/18/2027 2025-09-30 0001976336 ck0001976336:TransportationInfrastructureMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Vessco Midco Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 7/24/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Blackbird Purchaser, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/19/2025 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Arrow Management Acquisition, LLC Commitment Type Revolver Commitment Expiration Date 7/26/2032 2025-09-30 0001976336 ck0001976336:ElectricalEquipmentMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Tersera Therapeutics, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate 9.73% Maturity Date 4/4/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bridges Consumer Healthcare Intermediate LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 12/22/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Bellwether Buyer, L.L.C. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 4/15/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Carr, Riggs & Ingram Capital, L.L.C. Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate Floor 0.50% Interest Rate 8.06% Maturity Date 11/18/2031 2024-12-31 0001976336 ck0001976336:TransactionPriceMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Victory Buyer LLC Commitment Type Revolver Commitment Expiration Date 11/19/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Enthusiast Auto Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate﻿ 9.08% Maturity Date 12/19/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Aurora Parts & Accessories LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.96% Maturity Date 1/13/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Spirit RR Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.58% Maturity Date 9/13/2028 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated ClearCapital Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/6/2027 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Invictus Buyer, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/4/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services NAB Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 6.48% Maturity Date 11/23/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies The Hiller Companies, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/20/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Riser Interco LLC Commitment Type Revolver Commitment Expiration Date 10/31/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Oeconnection LLC Commitment Type Revolver Commitment Expiration Date 4/22/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Arax MidCo, LLC Asset Type First Lien Revolver Reference Rate and Spread 5.00% Interest Rate 8.98% Maturity Date 4/11/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Eyesouth Eye Care Holdco, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/1/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Golden State Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.18% Maturity Date 6/22/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated AMBA Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 7/30/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated VPP Intermediate Holdings, LLC Commitment Type Revolver Commitment Expiration Date 12/1/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies High Bar Brands Operating, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 12/19/2029 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology IMO Investor Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 5/11/2029 2025-09-30 0001976336 us-gaap:FairValueInputsLevel2Member us-gaap:UnsecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies YLG Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 10/30/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Minotaur Acquisition, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 6/03/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Pareto Health Intermediate Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/20/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Ahead DB Holdings, LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.73% Maturity Date 2/1/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies HeartLand PPC Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 12/12/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Broadstreet Partners, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.88% Maturity Date 6/13/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Minotaur Acquisition, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.33% Maturity Date 6/3/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Wealth Enhancement Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.31% Maturity Date 10/2/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology F&M Buyer LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 3/18/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software McAfee Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 3/1/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies HP RSS Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate﻿ 9.31% Maturity Date 12/11/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated HSI Halo Acquisition Inc. Commitment Type Revolver Commitment Expiration Date 6/28/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Propio LS, LLC Assets Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 5/10/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated CPC/Cirtec Holdings, Inc Commitment Type Revolver Commitment Expiration Date 10/31/2028 2024-12-31 0001976336 ck0001976336:AirFreightLogisticsMember 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Bellwether Buyer, L.L.C. Commitment Type Revolver Commitment Expiration Date 4/15/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Asurion, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate 7.49% Maturity Date 7/31/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Empyrean Solutions, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 11/26/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Blackbird Purchaser, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 12/19/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software e-Discovery AcquireCo, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.25% Interest Rate Floor 1.00% Interest Rate 10.56% Maturity Date 8/29/2029 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Kwol Acquisition, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/25/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products Primary Products Finance LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate 7.23% Maturity Date 4/1/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Oil, Gas and Consumable Fuels Valicor PPC Intermediate II LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 7/24/2028 Two 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Hotels, Restaurants and Leisure Movati Athletic (Group) Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 7.61% Maturity Date 5/29/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services CFGI Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate Floor 0.75% Interest Rate 8.83% Maturity Date 11/2/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated DT1 Midco Corp Commitment Type Revolver Commitment Expiration Date 12/30/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Nelipak Holding Company Commitment Type Delayed Draw Term Loan Commitment Expiration Date 03/29/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Oil, Gas and Consumable Fuels Valicor PPC Intermediate II LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.00% Interest Rate Floor 1.00% Interest Rate 8.33% Maturity Date 1/24/2028 2024-12-31 0001976336 ck0001976336:MediaMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Collision Sp Subco, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate﻿ 9.81% Maturity Date 1/29/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Monotype Imaging Holdings Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate 9.81% Maturity Date 2/28/2031 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated 123Dentist Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/10/2026 2025-09-30 0001976336 ck0001976336:ChemicalsMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Blackhawk Industrial Distribution, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/13/2025 2024-12-31 0001976336 ck0001976336:HealthCareTechnologyMember 2024-12-31 0001976336 ck0001976336:UsLocationMember 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated CCI Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 5/13/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services RxSense Holdings LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 3/12/2027 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:ACGParentHoldingsLPTwoMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Project Accelerate Parent LLC Commitment Type Revolver Commitment Expiration Date 2/24/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Foreigner Bidco Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.93% Maturity Date 4/19/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Trunk Acquisition, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/20/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Ave Holdings III, Corp Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 2/25/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Packaging Coordinators Midco, Inc. Commitment Type Revolver Commitment Expiration Date 01/22/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software KPA Parent Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 3/12/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Focus Financial Partners, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.88% Maturity Date 9/15/2031 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Inhabitiq Inc. Commitment Type Revolver Commitment Expiration Date 1/12/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Textiles, Apparel and Luxury Goods Gloves Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.00% Interest Rate 8.13% Maturity Date 5/22/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Monarch Buyer, Inc. Assets Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 6/2/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services GTCR Everest Borrower, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.73% Maturity Date 9/05/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services CVR Management, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 1/4/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Ampirical Solutions, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 9/30/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology DeLorean Purchaser, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/16/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Routeware, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/18/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated The Hiller Companies, LLC Commitment Type Revolver Commitment Expiration Date 06/20/2030 2025-09-30 0001976336 ck0001976336:InterestFloorOnePercentMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Applied Technical Services, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 4/8/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Cerity Partners Equity Holding LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/7/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Real Estate Management and Development Sako and Partners Lower Holdings LLC. Assets Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 9/15/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Household Durables Stanton Carpet Intermediate Holdings II, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 10/1/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Disa Holdings Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 9/9/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Life Sciences Tools & Services Kwol Acquisition, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/12/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Alta Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.31% Maturity Date 12/21/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Bulab Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 7/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Essential Services Holding Corporation Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 6/17/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Equity Investments Commercial Services and Supplies Low Voltage Holdings Inc. Asset Type Preferred 2025-09-30 0001976336 ck0001976336:ManagementFeeAgreementMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Hydraulic Technologies USA LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.81% Maturity Date 6/3/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Montana Buyer Inc. Commitment Type Revolver Commitment Expiration Date 7/22/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Dynatect Group Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.58% Maturity Date 9/30/2026 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated HeartLand PPC Buyer, LLC Commitment Type Revolver Commitment Expiration Date 12/12/2029 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Acentra Holdings, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/20/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Edgeco Buyer, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/20/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated MRI Software LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/27/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Aurorium Global Holdings LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.88% Maturity Date 12/22/2027 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember us-gaap:SecuredDebtMember srt:WeightedAverageMember ck0001976336:MarketYieldAnalysisMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Patriot Growth Insurance Services, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 9.08% Maturity Date 10/16/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services 1364720 B.C. LTD. Asset Type First Lien Term Loan Reference Rate and Spread C + 4.50% Interest Rate 7.38% Maturity Date 9/9/2028 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Wealth Enhancement Group, LLC Asset Type First Lien Revolver Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.58% Maturity Date 10/2/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Acentra Holdings, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.50% Interest Rate 9.81% Maturity Date 12/17/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Perforce Software, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 3/21/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Pathstone Family Office LLC Commitment Type Revolver Commitment Expiration Date 05/15/2028itment Expiration Date 5/15/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Denali Buyerco LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/6/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Docs, MSO, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.98% Maturity Date 6/1/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Ruppert Landscape, LLC Assets Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/3/2029 One 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member ck0001976336:MarketYieldDiscountRatesMember us-gaap:UnsecuredDebtMember ck0001976336:MarketYieldAnalysisMember srt:MaximumMember 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Simplicity Financial Marketing Group Holdings, Inc. Commitment Type Revolver Commitment Expiration Date 12/31/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services OIS Management Services, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 11/16/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Oeconnection LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 4/22/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Onyx-Fire Protection Services Inc. Asset Type First Lien Term Loan Reference Rate and Spread C + 4.50% Interest Rate Floor 0.00% Interest Rate﻿ 7.75% Maturity Date 7/31/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated CRCI Longhorn Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 8/28/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services YA Intermediate Holdings II, LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.60% Maturity Date 10/1/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Blackbird Purchaser, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 12/19/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Emburse, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 5/28/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Quality Automotive Services, LLC Commitment Type Revolver Commitment Expiration Date 07/16/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Cold Chain Technologies, LLC Commitment Type Revolver Commitment Expiration Date 7/2/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services OB Hospitalist Group, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.48% Maturity Date 9/27/2027 2025-09-30 0001976336 ck0001976336:BaseDistributionPerShareMember ck0001976336:S2024M3DividendsMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated AQ Carver Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 8/2/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Seahawk Bidco, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate Floor 0.00% Interest Rate 9.06% Maturity Date 12/19/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Spirit RR Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.58% Maturity Date 9/13/2028 2025-09-30 0001976336 us-gaap:SubsequentEventMember 2025-10-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services IG Investments Holdings, LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 9/22/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Truck-Lite Co., LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate﻿ 10.06% Maturity Date 2/13/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology HT Intermediary III, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 11/12/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Rimkus Consulting Group, Inc. Assets Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 4/1/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Heights Buyer, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.08% Maturity Date 8/25/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Cub Financing Intermediate, LLC Asset Type First Lien Term Loan Reference Rate and Spread 4.75% Interest Rate 8.73% Maturity Date 6/28/2030 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Innovetive Petcare, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/23/2027 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated KPA Parent Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/15/2027 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember srt:MinimumMember us-gaap:MarketApproachValuationTechniqueMember ck0001976336:MarketQuotationMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Air Freight and Logistics Lightbeam Bidco Inc Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate﻿ 9.56% Maturity Date 5/4/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Imagine 360 LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.06% Maturity Date 9/30/2028 2024-12-31 0001976336 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel2Member 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Air Freight and Logistics Lightbeam Bidco Inc Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 5/4/2029 2025-09-30 0001976336 ck0001976336:TradingCompaniesAndDistributorsMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Unsecured Debt Investments Diversified Consumer Services Apex Service Partners Intermediate 2, LLC Asset Type Subordinated Unsecured Delayed Draw Term Loan Interest Rate 14.25% PIK Maturity Date 4/23/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services USRP Holdings, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.83% Maturity Date 12/31/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging TricorBraun Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate 7.38% Maturity Date 3/3/2031 2025-09-30 0001976336 ck0001976336:CommonClassIMember 2024-11-05 0001976336 Investments - non-controlled/non-affiliated Secured Debt Higher Logic, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 1/10/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Equity Investments Chemicals Americhem,Inc. Asset Type Preferred 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:EquityMember 2025-07-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Cop Hometown Acquisitions, Inc. (fka Cop Airco Acquisitions, Inc.) Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.71% Maturity Date 7/16/2027 Two 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Seahawk Bidco, LLC Commitment Type Revolver Commitment Expiration Date 12/19/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services GS Seer Group Borrower LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.75% Interest Rate Floor 1.00% Interest Rate 11.06% Maturity Date 4/29/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Camelot U.S. Acquisition LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.88% Maturity Date 1/31/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Hydraulic Technologies USA LLC Commitment Type Revolver Commitment Expiration Date 6/3/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Beyond Risk Parent Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/9/2026 2024-12-31 0001976336 ck0001976336:BuildingProductsMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services JKC Parent, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 2/13/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies CDL Parent, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.98% Maturity Date 12/7/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Collision Sp Subco, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 1/30/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services RxSense Holdings LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 3/12/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Electronic Equipment, Instruments and Components Excelitas Technologies Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.38% Maturity Date 8/13/2029 2025-09-30 0001976336 us-gaap:ShortTermInvestmentsMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Safety Borrower Holdings LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 9/1/2027 2025-09-30 0001976336 ck0001976336:CommercialServicesAndSuppliesMember us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software ESG Investments, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate 8.96% Maturity Date 3/11/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Collision Sp Subco, LLC Commitment Type Revolver Commitment Expiration Date 1/29/2030 2024-12-31 0001976336 ck0001976336:ManagementFeeAgreementMember 2024-07-01 2024-09-30 0001976336 Investments—non-controlled/non-affiliated Vamos Bidco, Inc Commitment Type Revolver Commitment Expiration Date 01/30/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Seahawk Bidco, LLC Commitment Type Revolver Commitment Expiration Date 12/19/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Life Sciences Tools & Services Kwol Acquisition, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 6.25% Interest Rate Floor 0.75% Interest Rate 10.50% Maturity Date 12/12/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Ground Penetrating Radar Systems, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.58% Maturity Date 4/2/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Innovative Systems L.L.C. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 8/20/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Denali Buyerco LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 9/15/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Tank Holding Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate 10.25% Maturity Date 3/31/2028 2024-12-31 0001976336 2025-07-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Riser Interco LLC Asset Type First Lien Term Loan Reference Rate and Spread SON + 4.75% Interest Rate 8.72% Maturity Date 10/31/2029 2025-09-30 0001976336 ck0001976336:OilGasAndConsumableFuelsMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Spartan Bidco PTY LTD Asset Type First Lien Revolver Reference Rate and Spread S + 6.75% Interest Rate Floor 0.00% Interest Rate 11.06% Maturity Date 1/24/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Aspen Medical Products, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.08% Maturity Date 6/10/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Wealth Enhancement Group, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 10/2/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products WPP Bullet Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 12/7/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Oil, Gas and Consumable Fuels Valicor PPC Intermediate II LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.33% Maturity Date 7/24/2028 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Enthusiast Auto Holdings, LLC Commitment Type Revolver Commitment Expiration Date 12/19/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Real Estate Management and Development Sako and Partners Lower Holdings LLC. Assets Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 9/15/2028 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember 2025-01-01 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Phoenix 1 Buyer Corporation Commitment Type Revolver Commitment Expiration Date 11/20/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Pareto Health Intermediate Holdings, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.25% Maturity Date 6/1/2030 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated AB Centers Acquisition Corporation Commitment Type Delayed Draw Term Loan Commitment Expiration Date 7/2/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Ave Holdings III, Corp Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.60% Maturity Date 2/25/2028 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Amerilife Holdings LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/18/2026 2025-09-30 0001976336 ck0001976336:SpecialtyRetailMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Concord Global Acquisition, LLC, Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 12/29/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services HSI Halo Acquisition Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 6/30/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Emburse, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.25% Interest Rate 8.23% Maturity Date 5/28/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Empower Payments Investor, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 3/12/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology IMO Investor Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.31% Maturity Date 5/11/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Wireless Telecommunication Services Alert Media, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 0.00% Interest Rate Floor 1.00% Interest Rate 4.31% PIK Maturity Date 4/12/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Heights Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate 9.83% Maturity Date 8/25/2028 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember ck0001976336:TransactionPriceMember ck0001976336:RecentTransactionMember srt:MaximumMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Technology Hardware, Storage and Peripherals Victors Purchaser, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 8/15/2031 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember ck0001976336:TransactionPriceMember srt:MinimumMember ck0001976336:RecentTransactionMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Proampac PG Borrower LLC Commitment Type Revolver Commitment Expiration Date 6/16/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Nelipak Holding Company Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 3/26/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bamboo US BidCo LLC Asset Type First Lien Revolver Reference Rate and Spread S + 6.00% Interest Rate Floor 0.00% Interest Rate 10.31% Maturity Date 10/1/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Service Logic Acquisition, Inc. Commitment Type Revolver Commitment Expiration Date 10/30/2025 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Heights Buyer, LLC Commitment Type Revolver Commitment Expiration Date 8/25/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Oil, Gas and Consumable Fuels CPPIB OVM Member U.S. LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.50% Interest Rate 6.48% Maturity Date 8/20/2031 2025-09-30 0001976336 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueInputsLevel2Member 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery Flow Control Solutions, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 3/29/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Montana Buyer Inc. Commitment Type Revolver Commitment Expiration Date 07/22/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services The GI Alliance Management, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.00% Interest Rate 10.00% Maturity Date 9/15/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Pharmaceuticals Bridges Consumer Healthcare Intermediate LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.23% Maturity Date 12/22/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Highline Aftermarket Acquisition, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 3.75% Interest Rate Floor 0.00% Interest Rate﻿ 8.08% Maturity Date 8/10/2027 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Nelipak Holding Company Commitment Type Delayed Draw Term Loan Commitment Expiration Date 3/29/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services ENT MSO, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 6.50% Interest Rate Floor 1.00% Interest Rate 10.81% Maturity Date 12/31/2025 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Marco Technologies, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.56% Maturity Date 11/24/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software LogicMonitor, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.83% Maturity Date 11/19/2031 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated F&M Buyer LLC Commitment Type Revolver Commitment Expiration Date 3/18/2032 2025-09-30 0001976336 ck0001976336:DistributorsMember us-gaap:SecuredDebtMember 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated JKC Parent, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 6/2/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Onit, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 1/27/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Flint Opco, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 1.00% Interest Rate 9.08% Maturity Date 8/15/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Spartan Bidco PTY LTD Asset Type First Lien Term Loan Reference Rate and Spread S + 6.50% Interest Rate 10.63% Maturity Date 1/24/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software AQA Acquisition Holding, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 3.50% Interest Rate Floor 0.00% Interest Rate 7.83% Maturity Date 3/3/2028 2024-12-31 0001976336 currency:CAD 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services CVP Holdco, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 6/30/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Monarch Buyer, Inc. Commitment Type Revolver Commitment Expiration Date 06/02/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Trunk Acquisition, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 0.00% Interest Rate 10.31% Maturity Date 2/19/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Clinical Education Alliance, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 12/21/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies BIFM CA Buyer Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.75% Interest Rate 7.88% Maturity Date 5/31/2028 2025-09-30 0001976336 us-gaap:RestrictedStockUnitsRSUMember ck0001976336:UnlimitedTechnologyHoldingsLLCMember 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Building Products MDC Interior Acquisition Inc Asset Type First Lien Term Loan Reference Rate and Spread 5.00% Interest Rate 9.13% Maturity Date 4/26/2030 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Wu Holdco, Inc. Commitment Type Revolver Commitment Expiration Date 3/26/2027 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Excelitas Technologies Corp. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 5/1/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Transportation Infrastructure Psc Parent, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 9.13% Maturity Date 4/3/2030 2025-09-30 0001976336 ck0001976336:TotalUnfundedCommitmentsMember 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Fourth Enterprises, LLC Commitment Type Revolver Commitment Expiration Date 3/21/2031 2025-09-30 0001976336 us-gaap:SecuredDebtMember ck0001976336:HealthcareProvidersAndServicesMember 2024-12-31 0001976336 ck0001976336:IndustrialConglomeratesMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Petrus Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.89% Maturity Date 10/17/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Distributors Vessco Midco Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate Floor 0.75% Interest Rate 9.08% Maturity Date 7/24/2031 2024-12-31 0001976336 ck0001976336:DistributorsMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Ground Penetrating Radar Systems, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 1.00% Interest Rate 10.08% Maturity Date 4/2/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Nasuni Corporation Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.85% Maturity Date 9/10/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Digital.AI Software Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 10.31% Maturity Date 8/10/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance AQ Sunshine, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.56% Maturity Date 7/24/2031 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Oeconnection LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/22/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Automobile Components Truck-Lite Co., LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.75% Interest Rate Floor 0.75% Interest Rate﻿ 10.06% Maturity Date 2/13/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Hydraulic Technologies USA LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 6/3/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Zelis Cost Management Buyer, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 2.75% Interest Rate Floor 0.00% Interest Rate 7.08% Maturity Date 1/17/2029 2024-12-31 0001976336 us-gaap:MoneyMarketFundsMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Routeware, Inc. Commitment Type Revolver Commitment Expiration Date 09/18/2031 2025-09-30 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember ck0001976336:TransactionPriceMember ck0001976336:RecentTransactionMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Monarch Landscape Holdings, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate﻿ 9.31% Maturity Date 10/2/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Validity, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.68% Maturity Date 5/30/2026 2024-12-31 0001976336 us-gaap:ContainerAndPackagingSectorMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services RxSense Holdings LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.41% Maturity Date 3/13/2026 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Eyesouth Eye Care Holdco, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 4/1/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering Trilon Group, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.96% Maturity Date 5/29/2029 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Lightbeam Bidco Inc Commitment Type Revolver Commitment Expiration Date 5/4/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services Access CIG, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.00% Interest Rate 8.13% Maturity Date 8/19/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Apex Service Partners, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate 9.31% Maturity Date 10/24/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Arax MidCo, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread 5.00% Interest Rate 8.98% Maturity Date 4/11/2029 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies HP RSS Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 12/11/2029 One 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Ridge Trail US Bidco, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 03/31/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging Packaging Coordinators Midco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 1/22/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Aprio Advisory Group, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 8/1/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Transportation Infrastructure Psc Parent, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.58% Maturity Date 4/3/2031 2024-12-31 0001976336 ck0001976336:HotelsRestaurantsAndLeisureMember 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Invictus Buyer, LLC Commitment Type Revolver Commitment Expiration Date 6/3/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Lido Advisors, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rate﻿ 9.31% Maturity Date 6/15/2029 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Bracket Intermediate Holding Corp. Commitment Type Revolver Commitment Expiration Date 2/7/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services FSHS I, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.63% Maturity Date 11/18/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Pareto Health Intermediate Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/31/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services JKC Parent, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 2/13/2032 One 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Prism Parent Co. Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.75% Interest Rate 9.33% Maturity Date 9/19/2028 2024-12-31 0001976336 us-gaap:SecuredDebtMember ck0001976336:HealthcareProvidersAndServicesMember 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Chemicals Bulab Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.88% Maturity Date 7/1/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Azalea TopCo, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 4/30/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Industrial Conglomerates Indicor, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.73% Maturity Date 11/22/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Seahawk Bidco, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/19/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services STCH Acquisition Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.66% Maturity Date 10/30/2026 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Tersera Therapeutics, LLC Commitment Type Revolver Commitment Expiration Date 4/4/2029 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Proampac PG Borrower LLC Commitment Type Revolver Commitment Expiration Date 06/16/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt IT Services Ridge Trail US Bidco, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.35% Maturity Date 3/31/2031 2025-09-30 0001976336 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0001976336 Investments—non-controlled/non-affiliated Valet Waste Holdings, Inc. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 9/8/2025 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated Foundation Risk Partners, Corp. Commitment Type Delayed Draw Term Loan Commitment Expiration Date 2/26/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Specialty Retail Mavis Tire Express Services Topco, Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 6.98% Maturity Date 5/4/2028 2025-09-30 0001976336 us-gaap:SecuredDebtMember ck0001976336:RealEstateManagementAndDevelopmentMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Seahawk Bidco, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 12/19/2026 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Food Products Fiesta Purchaser, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 3.25% Interest Rate Floor 0.00% Interest Rate 7.58% Maturity Date 2/12/2031 2024-12-31 0001976336 us-gaap:FairValueInputsLevel3Member us-gaap:SecuredDebtMember srt:WeightedAverageMember us-gaap:MarketApproachValuationTechniqueMember ck0001976336:MarketQuotationMember 2024-12-31 0001976336 Investments—non-controlled/non-affiliated MDC Interior Acquisition Inc Commitment Type Revolver Commitment Expiration Date 4/26/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services EPFS Buyer, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 7/31/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies Zone Climate Services, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 5.75% Interest Rate 9.88% Maturity Date 3/9/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services Heights Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.75% Interest Rate 9.83% Maturity Date 8/25/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Transportation Infrastructure Psc Parent, Inc. Asset Type First Lien Revolver Reference Rate and Spread S + 4.25% Interest Rate Floor 0.00% Interest Rate 8.58% Maturity Date 4/3/2030 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Pathstone Family Office LLC Commitment Type Revolver Commitment Expiration Date 5/15/2028 2024-12-31 0001976336 Investments – Non-controlled/non-affiliated DS Admiral Bidco, LLC Commitment Type Revolver Commitment Expiration Date 6/26/2029 2025-09-30 0001976336 Investments – Non-controlled/non-affiliated Edpo, LLC Commitment Type Revolver Commitment Expiration Date 12/8/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Financial Services CFGI Holdings, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 11/02/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Trading Companies and Distributors Graffiti Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 1.00% Interest Rate 9.91% Maturity Date 8/10/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Seahawk Bidco, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 12/19/2030 2025-09-30 0001976336 ck0001976336:HealthcareEquipmentAndSuppliesMember us-gaap:SecuredDebtMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services TurningPoint Healthcare Solutions, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.98% Maturity Date 7/14/2027 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Saturn Borrower Inc Commitment Type Delayed Draw Term Loan Commitment Expiration Date 01/24/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Arrow Management Acquisition, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/26/2032 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services VT Topco, Inc. Assets Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 8/9/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Ave Holdings III, Corp Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.00% Interest Rate 9.81% Maturity Date 2/25/2028 2024-12-31 0001976336 currency:EUR 2025-01-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Insurance Pareto Health Intermediate Holdings, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate Floor 0.00% Interest Rate 9.25% Maturity Date 5/31/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies WRE Holding Corp. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.85% Maturity Date 7/2/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Empyrean Solutions, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 11/26/2031 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Sako and Partners Lower Holdings LLC. Commitment Type Revolver Commitment Expiration Date 09/15/2028 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Health Care Technology Invictus Buyer, LLC Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/3/2031 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Golden State Buyer, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.98% Maturity Date 3/21/2027 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Intel 471 INC. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.56% Maturity Date 9/27/2028 2024-12-31 0001976336 Investments—non-controlled/non-affiliated Empower Payments Investor, LLC Commitment Type Revolver Commitment Expiration Date 3/12/2030 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software North Star Acquisitionco, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.48% Maturity Date 5/03/2029 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Formulations Parent Corporation Commitment Type Revolver Commitment Expiration Date 11/15/2029 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Hotels, Restaurants and Leisure Southpaw Ap Buyer, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 1.00% Interest Rate 9.71% Maturity Date 3/2/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Vamos Bidco, Inc Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 1/30/2032 2025-09-30 0001976336 Investments—non-controlled/non-affiliated YA Intermediate Holdings II, LLC Commitment Type Delayed Draw Term Loan Commitment Expiration Date 10/2/2026 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software Artifact Bidco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 0.50% Interest Rate 8.83% Maturity Date 7/25/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Containers and Packaging St Athena Global LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate Floor 0.75% Interest Rate 9.56% Maturity Date 6/26/2030 2024-12-31 0001976336 us-gaap:EquitySecuritiesMember 2025-09-30 0001976336 ck0001976336:AdvisorMember 2025-07-01 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Providers and Services Arrow Management Acquisition, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 7/26/2032 2025-09-30 0001976336 ck0001976336:DiversifiedTelecommunicationServicesMember 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Construction & Engineering FR Vision Holdings Inc, LLC Asset Type First Lien Term Loan Reference Rate and Spread S + 5.50% Interest Rate Floor 0.75% Interest Rate 9.81% Maturity Date 1/20/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Software DT Intermediate Holdco, Inc. Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.50% Interest Rate 9.48% Maturity Date 2/24/2028 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Vessco Midco Holdings, LLC Commitment Type Revolver Commitment Expiration Date 7/24/2031 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Healthcare Equipment and Supplies Cadence, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate 8.63% Maturity Date 5/21/2026 2025-09-30 0001976336 Investments—non-controlled/non-affiliated Vaco Holdings, LLC Commitment Type Revolver Commitment Expiration Date 1/21/2027 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Capital Markets Edgeco Buyer, Inc. Two Asset Type First Lien Term Loan Reference Rate and Spread S + 4.50% Interest Rate Floor 1.00% Interest Rate﻿ 8.81% Maturity Date 6/1/2028 2024-12-31 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Essential Services Holding Corporation Asset Type First Lien Revolver Reference Rate and Spread S + 5.00% Interest Rate 8.98% Maturity Date 6/17/2030 2025-09-30 0001976336 us-gaap:CommonStockMember 2024-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Diversified Consumer Services Flint Opco, LLC Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 4.75% Interest Rate 8.73% Maturity Date 8/15/2030 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Machinery SPX Flow, Inc. Asset Type First Lien Term Loan Reference Rate and Spread S + 2.75% Interest Rate 6.88% Maturity Date 4/5/2029 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Commercial Services and Supplies WRE Holding Corp. Asset Type First Lien Term Loan Reference Rate and Spread S + 5.00% Interest Rate 8.85% Maturity Date 7/2/2031 Three 2025-09-30 0001976336 Investments - non-controlled/non-affiliated Secured Debt Professional Services TRC Companies LLC Assets Type First Lien Term Loan Reference Rate and Spread S + 3.00% Interest Rate 7.13% Maturity Date 12/8/2028 2025-09-30 iso4217:EUR iso4217:EGP xbrli:pure xbrli:shares iso4217:CAD iso4217:GBP iso4217:USD xbrli:shares iso4217:USD

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________________________________________________________________

FORM 10-Q

_______________________________________________________________________

(Mark One)

☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2025

OR

☐ | T RANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 814-01700

_______________________________________________________________________

ANTARES PRIVATE CREDIT FUND

(Exact name of Registrant as specified in its Charter)

_______________________________________________________________________

Delaware |  | 93-3416650
(State or other jurisdiction of incorporation or organization) |  | (I.R.S. Employer Identification No.)
320 South Canal Street, Suite 4200 Chicago, IL |  | 60606
(Address of principal executive offices) |  | (Zip Code)

312-638-4117

Registrant’s telephone number, including area code

_______________________________________________________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class |  | Trading Symbol(s) |  | Name of each exchange on which registered
None |  | None |  | None

Securities registered pursuant to Section 12(g) of the Act:

Class I Shares, par value $0.01 per share

Class S Shares, par value $0.01 per share

Class D Shares, par value $0.01 per share

(Title of class)

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ NO ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ NO ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company" and “emerging growth company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer | ☐ |  | Accelerated filer | ☐
Non-accelerated filer | ☒ |  | Smaller reporting company | ☐
Emerging growth company | ☒ |  |  |

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act). YES ☐ NO ☒

The Registrant’s common shares of beneficial interest (“Common Shares”), $0.01 par value per share, outstanding as of November 13, 2025 was 28,405,834 of Class I S hares. No Class S or Class D Shares have been iss ued as of November 13, 2025. Common Shares outstanding exclude November 1, 2025 subscriptions, as the issuance price is not yet finalized at this time.

1

Table of Contents

|  | Page
PART I | FINANCIAL INFORMATION |
Item 1. | Consolidated Financial Statements |
| Consolidated Statements of Assets and Liabilities as of September 30, 2025 (Unaudited) and December 31, 2024 | 4
| Consolidated Statements of Operations for the three and nine months ended September 30, 2025 and 2024 (Unaudited) | 5
| Consolidated Statements of Changes in Net Assets for the three and nine months ended September 30, 2025 and 2024 (Unaudited) | 6
| Consolidated Statement of Cash Flows for the nine months ended September 30, 2025 (Unaudited) | 8
| Consolidated Schedules of Investments as of September 30, 2025 (Unaudited) and December 31, 2024 | 9
| Notes to Consolidated Financial Statements (Unaudited) | 74
Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 98
Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 110
Item 4. | Controls and Procedures | 111
PART II | OTHER INFORMATION |
Item 1. | Legal Proceedings | 112
Item 1A. | Risk Factors | 112
Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 112
Item 3. | Defaults Upon Senior Securities | 112
Item 4. | Mine Safety Disclosures | 112
Item 5. | Other Information | 112
Item 6. | Exhibits | 113
| Signatures | 114

2

Table of Contents

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

The information contained in this section should be read in conjunction with our consolidated financial statements and notes thereto appearing elsewhere in this Quarterly Report. In addition, some of the statements in this Quarterly Report (including in the following discussion) constitute forward-looking statements, which relate to future events or the future performance or financial condition of Antares Private Credit Fund (the “Company,” “we,” “us,” or “our”). The Company is externally managed by Antares Capital Credit Advisers LLC (the “Adviser”). The forward-looking statements contained in this report involve a number of risks and uncertainties, including statements concerning:

•
we have a limited operating history;
•
our, or our portfolio companies’, future business, operations, operating results or prospects;
•
the return or impact of current and future investments;
•
changes in the general economy, including those caused by tariffs and trade disputes with other countries, changes in inflation, risk of recession and a prolonged United States government shutdown;
•
the impact of changes in laws or regulations (including the interpretation thereof), including tax laws, governing our operations or the operations of our portfolio companies or the operations of our competitors;
•
the valuation of our investments in portfolio companies, particularly those having no liquid trading market;
•
market conditions and our ability to access different debt markets and additional debt and equity capital and our ability to manage our capital resources effectively;
•
our contractual arrangements and relationships with third parties;
•
the state of the general economy;
•
the impact of supply chain constraints on our portfolio companies and the global economy;
•
uncertainty surrounding global financial stability, including the liquidity of certain banks;
•
the financial condition of our current and prospective portfolio companies and their ability to achieve their objectives;
•
the impact of information technology system failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity attacks;
•
our ability to raise capital in the private and public debt and equity markets;
•
our ability to anticipate and identify evolving market expectations with respect to environmental, social and governance matters, including the environmental impacts of our portfolio companies’ supply chain and operations;
•
the outcome and impact of any litigation or regulatory proceeding;
•
the adequacy of our cash resources and working capital;
•
the timing, form and amount of any dividend distributions;
•
the timing of cash flows, if any, from the operations of our portfolio companies; and
•
the ability of our adviser to locate suitable investments for us and to monitor and administer our investments.

We use words such as “anticipates,” “believes,” “expects,” “intends,” “project,” “estimates,” “will,” “should,” “could,” “would,” “may” and similar expressions to identify forward-looking statements, although not all forward-looking statements include these words. Our actual results and condition could differ materially from those implied or expressed in the forward-looking statements for any reason, including the factors set forth in “Risk Factors” on the Company’s registration statement on Form N-2, Annual Report on Form 10-K and this Quarterly Report.

We have based the forward-looking statements included in this Quarterly Report on information available to us on the filing date of this Quarterly Report, and we assume no obligation to update any such forward-looking statements. Although we undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that we may make directly to you or through reports that we have filed or in the future may file with the Securities and Exchange Commission (the “SEC”), including annual reports on Form 10-K, registration statement on Form N-2, quarterly reports on Form 10-Q and current reports on Form 8-K.

3

Table of Contents

PART I - FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED STATEMENTS OF ASSETS AND L IABILITIES

(in thousands, except share and per share amounts)

|  | September 30, 2025 |  |  | December 31, 2024 |
|  | (Unaudited) |  |  |  |
ASSETS |  |  |  |  |  |
Investments at fair value: |  |  |  |  |  |
Non-controlled/non-affiliated investments, at fair value (amortized cost — $1,395,830 and $849,742 as of September 30, 2025 and December 31, 2024, respectively) |  | $ | 1,393,758 |  |  | $ | 848,360 |
Short-term investments (amortized cost — $29,010 and $0 as of September 30, 2025 and December 31, 2024, respectively) (1) |  |  | 29,010 |  |  |  | — |
Total investments at fair value |  |  | 1,422,768 |  |  |  | 848,360 |
Cash and cash equivalents (1) |  |  | 11,701 |  |  |  | 42,146 |
Foreign currencies (cost — $8,905 and $20,235 as of September 30, 2025 and December 31, 2024, respectively) |  |  | 9,091 |  |  |  | 20,194 |
Interest receivable from non-controlled/non-affiliated investments |  |  | 6,322 |  |  |  | 3,824 |
Dividend receivable from non-controlled/non-affiliated investments |  |  | 176 |  |  |  | — |
Deferred offering costs |  |  | 428 |  |  |  | 943 |
Receivable from adviser (Note 3) |  |  | 1,361 |  |  |  | 2,839 |
Receivable for investments sold / repaid |  |  | 30 |  |  |  | 82 |
Prepaid expenses and other assets |  |  | 59 |  |  |  | 446 |
Total assets |  | $ | 1,451,936 |  |  | $ | 918,834 |
LIABILITIES |  |  |  |  |  |
Debt outstanding |  | $ | 720,127 |  |  | $ | 110,194 |
Less: Deferred financing costs |  |  | (5,081 | ) |  |  | (3,087 | )
Total debt, net of deferred financing costs |  |  | 715,046 |  |  |  | 107,107 |
Payable for investments purchased |  |  | 20,816 |  |  |  | 160,489 |
Interest payable |  |  | 2,145 |  |  |  | 361 |
Distributions payable |  |  | 5,782 |  |  |  | 8,290 |
Administrative service fee payable |  |  | 283 |  |  |  | 93 |
Accrued expenses and other liabilities |  |  | 2,027 |  |  |  | 986 |
Management fees payable |  |  | 1,174 |  |  |  | — |
Income based incentive fee payable |  |  | 1,223 |  |  |  | — |
Due to affiliates |  |  | 221 |  |  |  | 4,049 |
Total liabilities |  |  | 748,717 |  |  |  | 281,375 |
Commitments and contingencies (Note 7) |  |  |  |  |  |
NET ASSETS |  |  |  |  |  |
Common Shares, par value $0.01 (27,894,139 and 25,405,674 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively) |  |  | 279 |  |  |  | 254 |
Paid-in capital in excess of par value |  |  | 698,118 |  |  |  | 635,495 |
Accumulated net distributable earnings |  |  | 4,822 |  |  |  | 1,710 |
Total net assets |  |  | 703,219 |  |  |  | 637,459 |
Total liabilities and net assets |  | $ | 1,451,936 |  |  | $ | 918,834 |
Net asset value per share |  | $ | 25.21 |  |  | $ | 25.09 |

(1)
The Company has made a prospective presentation change to reclassify money market fund investments as short-term investments, resulting in their exclusion from cash and cash equivalents beginning in the reporting period ended June 30, 2025. See Note 2 for additional detail.

See accompanying notes to the consolidated financial statements.

4

Table of Contents

ANTARES PRIVATE CREDIT FUND

C ONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(in thousands, except share and per share amounts)

| Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
| 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Investment income: |  |  |  |  |  |  |  |  |  |  |
From total investments: |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 31,035 |  |  | $ | — |  |  | $ | 80,732 |  |  | $ | — |
Payment-in-kind interest income |  | 170 |  |  |  | — |  |  |  | 423 |  |  |  | — |
Dividend income |  | 220 |  |  |  | — |  |  |  | 539 |  |  |  | — |
Other income |  | 791 |  |  |  | — |  |  |  | 3,361 |  |  |  | — |
Total investment income |  | 32,216 |  |  |  | — |  |  |  | 85,055 |  |  |  | — |
Expenses: |  |  |  |  |  |  |  |  |  |  |
Interest and debt expenses |  | 10,779 |  |  |  | — |  |  |  | 23,741 |  |  |  | — |
Management fees (Note 3) |  | 2,180 |  |  |  | — |  |  |  | 6,184 |  |  |  | — |
Income based incentive fee (Note 3) |  | 2,366 |  |  |  | — |  |  |  | 7,034 |  |  |  | — |
Administrative service fee |  | 190 |  |  |  | — |  |  |  | 522 |  |  |  | — |
Board of Trustees’ fee |  | 45 |  |  |  | — |  |  |  | 115 |  |  |  | — |
Other general and administrative expenses |  | 743 |  |  |  | — |  |  |  | 2,366 |  |  |  | — |
Organization and offering costs |  | 512 |  |  |  | 113 |  |  |  | 1,575 |  |  |  | 161 |
Total expenses |  | 16,815 |  |  |  | 113 |  |  |  | 41,537 |  |  |  | 161 |
Management fees waiver (Note 3) |  | (1,005 | ) |  |  | — |  |  |  | (5,009 | ) |  |  | — |
Incentive fees waiver (Note 3) |  | (1,143 | ) |  |  | — |  |  |  | (5,811 | ) |  |  | — |
Reimbursable expenses paid by adviser (Note 3) |  | (35 | ) |  |  | (113 | ) |  |  | (683 | ) |  |  | (161 | )
Net expenses, net of fee waivers |  | 14,632 |  |  |  | — |  |  |  | 30,034 |  |  |  | — |
Net investment income (loss) |  | 17,584 |  |  |  | — |  |  |  | 55,021 |  |  |  | — |
Net realized and change in unrealized gain (loss): |  |  |  |  |  |  |  |  |  |  |
Net realized gain (loss): |  |  |  |  |  |  |  |  |  |  |
Non-controlled/non-affiliated investments |  | 1 |  |  |  | — |  |  |  | (13 | ) |  |  | — |
Foreign currency transactions |  | 153 |  |  |  | — |  |  |  | 960 |  |  |  | — |
Total net realized gain (loss) |  | 154 |  |  |  | — |  |  |  | 947 |  |  |  | — |
Net change in unrealized appreciation (depreciation): |  |  |  |  |  |  |  |  |  |  |
Non-controlled/non-affiliated investments |  | (249 | ) |  |  | — |  |  |  | (689 | ) |  |  | — |
Translation of assets and liabilities in foreign currencies |  | 350 |  |  |  | — |  |  |  | (2,133 | ) |  |  | — |
Total net change in unrealized appreciation (depreciation) |  | 101 |  |  |  | — |  |  |  | (2,822 | ) |  |  | — |
Total net realized and change in unrealized gain (loss) |  | 255 |  |  |  | — |  |  |  | (1,875 | ) |  |  | — |
Net increase (decrease) in net assets resulting from operations | $ | 17,839 |  |  | $ | — |  |  | $ | 53,146 |  |  | $ | — |
Per share information |  |  |  |  |  |  |  |  |  |  |
Net investment income (loss) per share (basic and diluted) | $ | 0.64 |  |  | $ | — |  |  | $ | 2.09 |  |  | $ | — |
Earnings per share (basic and diluted) | $ | 0.65 |  |  | $ | — |  |  | $ | 2.02 |  |  | $ | — |
Distributions declared per share | $ | 0.65 |  |  | $ | — |  |  | $ | 1.90 |  |  | $ | — |
Weighted average shares outstanding (basic and diluted) |  | 27,415,336 |  |  |  | 1,000 |  |  |  | 26,305,369 |  |  |  | 1,000 |

See accompanying notes to the consolidated financial statements.

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Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

(in thousands, except shares)

Three Months Ended September 30, 2025

|  |  |  |  |  |  |  |  |  | Accumulated Net |  |  |  |
| Common Shares |  |  | Paid-in-Capital in |  |  | Distributable Earnings |  |  | Total |
| Shares |  |  | Par Value |  |  | Excess of Par Value |  |  | (Losses) |  |  | Net Assets |
Net assets at beginning of period |  | 26,615,155 |  |  | $ | 266 |  |  | $ | 665,867 |  |  | $ | 4,710 |  |  | $ | 670,843 |
Operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net investment income (loss) |  | — |  |  |  | — |  |  |  | — |  |  |  | 17,584 |  |  |  | 17,584 |
Net realized gain (loss) |  | — |  |  |  | — |  |  |  | — |  |  |  | 154 |  |  |  | 154 |
Net change in unrealized appreciation (depreciation) |  | — |  |  |  | — |  |  |  | — |  |  |  | 101 |  |  |  | 101 |
Net increase (decrease) in net assets resulting from operations |  | — |  |  |  | — |  |  |  | — |  |  |  | 17,839 |  |  |  | 17,839 |
Capital Transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issuance of shares |  | 1,263,848 |  |  |  | 13 |  |  |  | 31,869 |  |  |  | — |  |  |  | 31,882 |
Common Shares issued from reinvestment of distributions |  | 15,136 |  |  |  | — |  |  |  | 382 |  |  |  | — |  |  |  | 382 |
Distributions to shareholders |  | — |  |  |  | — |  |  |  | — |  |  |  | (17,727 | ) |  |  | (17,727 | )
Net increase (decrease) in net assets resulting from capital transactions |  | 1,278,984 |  |  |  | 13 |  |  |  | 32,251 |  |  |  | (17,727 | ) |  |  | 14,537 |
Total net increase (decrease) |  | 1,278,984 |  |  |  | 13 |  |  |  | 32,251 |  |  |  | 112 |  |  |  | 32,376 |
Net assets at end of period |  | 27,894,139 |  |  | $ | 279 |  |  | $ | 698,118 |  |  | $ | 4,822 |  |  | $ | 703,219 |

Nine Months Ended September 30, 2025

|  |  |  |  |  |  |  |  |  | Accumulated Net |  |  |  |
| Common Shares |  |  | Paid-in-Capital in |  |  | Distributable Earnings |  |  | Total |
| Shares |  |  | Par Value |  |  | Excess of Par Value |  |  | (Losses) |  |  | Net Assets |
Net assets at beginning of period |  | 25,405,674 |  |  | $ | 254 |  |  | $ | 635,495 |  |  | $ | 1,710 |  |  | $ | 637,459 |
Operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net investment income (loss) |  | — |  |  |  | — |  |  |  | — |  |  |  | 55,021 |  |  |  | 55,021 |
Net realized gain (loss) |  | — |  |  |  | — |  |  |  | — |  |  |  | 947 |  |  |  | 947 |
Net change in unrealized appreciation (depreciation) |  | — |  |  |  | — |  |  |  | — |  |  |  | (2,822 | ) |  |  | (2,822 | )
Net increase (decrease) in net assets resulting from operations |  | — |  |  |  | — |  |  |  | — |  |  |  | 53,146 |  |  |  | 53,146 |
Capital Transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issuance of shares |  | 2,470,603 |  |  |  | 25 |  |  |  | 62,173 |  |  |  | — |  |  |  | 62,198 |
Common Shares issued from reinvestment of distributions |  | 17,862 |  |  |  | — |  |  |  | 450 |  |  |  | — |  |  |  | 450 |
Distributions to shareholders |  | — |  |  |  | — |  |  |  | — |  |  |  | (50,034 | ) |  |  | (50,034 | )
Net increase (decrease) in net assets resulting from capital transactions |  | 2,488,465 |  |  |  | 25 |  |  |  | 62,623 |  |  |  | (50,034 | ) |  |  | 12,614 |
Total net increase (decrease) |  | 2,488,465 |  |  |  | 25 |  |  |  | 62,623 |  |  |  | 3,112 |  |  |  | 65,760 |
Net assets at end of period |  | 27,894,139 |  |  | $ | 279 |  |  | $ | 698,118 |  |  | $ | 4,822 |  |  | $ | 703,219 |

See accompanying notes to the consolidated financial statements.

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)(Continued)

(in thousands, except shares)

Three Months Ended September 30, 2024

|  |  |  |  |  |  |  |  |  | Accumulated Net |  |  |  |
| Common Shares |  |  | Paid-in-Capital in |  |  | Distributable Earnings |  |  | Total |
| Shares |  |  | Par Value |  |  | Excess of Par Value |  |  | (Losses) |  |  | Net Assets |
Net assets at beginning of period |  | 1,000 |  |  | $ | — |  |  | $ | 25 |  |  | $ | — |  |  | $ | 25 |
Operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net investment income (loss) |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net realized gain (loss) |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net change in unrealized appreciation (depreciation) |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net increase (decrease) in net assets resulting from operations |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Shareholder distributions: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net increase (decrease) in net assets resulting from shareholder distributions |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Capital Transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issuance of shares |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Distributions to shareholders |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net increase (decrease) in net assets resulting from capital transactions |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total net increase (decrease) |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net assets at end of period |  | 1,000 |  |  | $ | — |  |  | $ | 25 |  |  | $ | — |  |  | $ | 25 |

Nine Months Ended September 30, 2024

|  |  |  |  |  |  |  |  |  | Accumulated Net |  |  |  |
| Common Shares |  |  | Paid-in-Capital in |  |  | Distributable Earnings |  |  | Total |
| Shares |  |  | Par Value |  |  | Excess of Par Value |  |  | (Losses) |  |  | Net Assets |
Net assets at beginning of period |  | 1,000 |  |  | $ | — |  |  | $ | 25 |  |  | $ | — |  |  | $ | 25 |
Operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net investment income (loss) |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net realized gain (loss) |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net change in unrealized appreciation (depreciation) |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net increase (decrease) in net assets resulting from operations |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Shareholder distributions: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net increase (decrease) in net assets resulting from shareholder distributions |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Capital Transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issuance of shares |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Distributions to shareholders |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net increase (decrease) in net assets resulting from capital transactions |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total net increase (decrease) |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net assets at end of period |  | 1,000 |  |  | $ | — |  |  | $ | 25 |  |  | $ | — |  |  | $ | 25 |

See accompanying notes to the consolidated financial statements.

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)

(in thousands)

|  | Nine Months Ended September 30, 2025 |
Cash flow from operating activities |  |  |
Net increase (decrease) in net assets resulting from operations |  | $ | 53,146 |
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities: |  |  |
Accrued interest and dividends received in-kind |  |  | (770 | )
Net accretion of discount and amortization of premium |  |  | (1,372 | )
Proceeds from sale of investments and principal repayments |  |  | 158,206 |
Purchases of investments |  |  | (702,165 | )
Purchase/sale of short-term investments, net (1) |  |  | 10,516 |
Net realized (gains) losses on investments |  |  | 13 |
Net change in unrealized (appreciation) depreciation on investments |  |  | 689 |
Amortization of deferred financing costs |  |  | 821 |
Amortization of deferred offering costs |  |  | 1,457 |
(Increase) decrease in operating assets: |  |  |
Interest receivable from non-controlled/non-affiliated investments |  |  | (2,498 | )
Dividend receivable from non-controlled/non-affiliated investments |  |  | (176 | )
Receivable from adviser |  |  | 1,478 |
Receivable for investments sold / repaid |  |  | 52 |
Prepaid expenses and other assets |  |  | 387 |
Increase (decrease) in operating liabilities: |  |  |
Due to affiliates |  |  | (3,828 | )
Payable for investments purchased |  |  | (139,673 | )
Management fees payable |  |  | 1,174 |
Income based incentive fee payable |  |  | 1,223 |
Interest payable |  |  | 1,784 |
Administrative service fee payable |  |  | 190 |
Accrued expenses and other liabilities |  |  | 1,041 |
Net cash provided by (used in) operating activities |  |  | (618,305 | )
Cash flow from financing activities |  |  |
Proceeds from issuance of shares |  |  | 62,198 |
Debt borrowings |  |  | 646,928 |
Debt repayments |  |  | (36,995 | )
Distributions paid |  |  | (52,092 | )
Deferred offering costs paid |  |  | (941 | )
Deferred financing costs paid |  |  | (2,815 | )
Net cash provided by (used in) financing activities |  |  | 616,283 |
Net increase (decrease) in cash and cash equivalents |  |  | (2,022 | )
Cash, cash equivalents and foreign currencies at the beginning of period (1) |  |  | 22,814 |
Cash, cash equivalents and foreign currencies at the end of period (1) |  | $ | 20,792 |
Supplemental disclosure of cash flow information |  |  |
Cash paid for interest |  | $ | 21,136 |
Cash paid for taxes |  | $ | 74 |
Distributions payable |  |  | 5,782 |

(1)
The Company has made a prospective presentation change to reclassify money market fund investments as short-term investments, resulting in their exclusion from cash and cash equivalents beginning in the reporting period June 30, 2025. As a result, cash and cash equivalents at the beginning of this period exc lude $39,527 o f money market fund investments. See Note 2 for additional detail.

See accompanying notes to the consolidated financial statements.

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Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Investments - non-controlled/non-affiliated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured Debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerospace and Defense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bleriot US Bidco Inc. |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 2.50% |  | 6.48% |  | 10/31/2030 |  | $ | 4,640 |  |  | $ | 4,650 |  |  | $ | 4,648 |  |  |  | 0.66 |  | %
GSP Holdings, LLC |  | (6)(8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 10.63% (Incl. 0.75% PIK) |  | 11/6/2026 |  |  | 102 |  |  |  | 102 |  |  |  | 95 |  |  |  | 0.01 |  |
GSP Holdings, LLC |  | (3)(6)(8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 10.63% (Incl. 0.75% PIK) |  | 11/6/2026 |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |  |
TransDigm Inc. |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 2.25% |  | 6.23% |  | 3/22/2030 |  |  | 3,687 |  |  |  | 3,703 |  |  |  | 3,688 |  |  |  | 0.52 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,456 |  |  |  | 8,431 |  |  |  | 1.19 |  |
Air Freight and Logistics |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Kenco PPC Buyer LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.60% |  | 11/15/2029 |  |  | 5,356 |  |  |  | 5,330 |  |  |  | 5,356 |  |  |  | 0.76 |  |
Kenco PPC Buyer LLC |  | (7)(12) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 11/15/2029 |  |  | 359 |  |  |  | 70 |  |  |  | 72 |  |  |  | 0.01 |  |
Lightbeam Bidco Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 5/6/2030 |  |  | 4,913 |  |  |  | 4,913 |  |  |  | 4,912 |  |  |  | 0.70 |  |
Lightbeam Bidco Inc. |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 5/6/2030 |  |  | 647 |  |  |  | 647 |  |  |  | 647 |  |  |  | 0.09 |  |
Lightbeam Bidco Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 5/4/2029 |  |  | 491 |  |  |  | — |  |  |  | — |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,960 |  |  |  | 10,987 |  |  |  | 1.56 |  |
Automobile Components |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Enthusiast Auto Holdings, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 12/19/2026 |  |  | 5,876 |  |  |  | 5,876 |  |  |  | 5,876 |  |  |  | 0.84 |  |
Enthusiast Auto Holdings, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 12/19/2026 |  |  | 64 |  |  |  | — |  |  |  | — |  |  |  | — |  |
JHCC Holdings LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 9/9/2027 |  |  | 1,457 |  |  |  | 1,451 |  |  |  | 1,449 |  |  |  | 0.21 |  |
JHCC Holdings LLC |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 9/9/2027 |  |  | 422 |  |  |  | 421 |  |  |  | 420 |  |  |  | 0.06 |  |
JHCC Holdings LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 9/9/2027 |  |  | 168 |  |  |  | 67 |  |  |  | 66 |  |  |  | 0.01 |  |
OAC Holdings I Corp |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 3/30/2029 |  |  | 186 |  |  |  | 186 |  |  |  | 186 |  |  |  | 0.03 |  |
Power Stop, LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 4.75% |  | 8.83% |  | 1/26/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 179 |  |  |  | 0.02 |  |
Quality Automotive Services, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 7/16/2027 |  |  | 4,657 |  |  |  | 4,642 |  |  |  | 4,634 |  |  |  | 0.66 |  |
Quality Automotive Services, LLC |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 7/16/2027 |  |  | 1,117 |  |  |  | 1,113 |  |  |  | 1,111 |  |  |  | 0.16 |  |
Quality Automotive Services, LLC |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 7/16/2027 |  |  | 918 |  |  |  | 915 |  |  |  | 913 |  |  |  | 0.13 |  |
Quality Automotive Services, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 7/16/2027 |  |  | 1,333 |  |  |  | 1,048 |  |  |  | 1,044 |  |  |  | 0.15 |  |
Quality Automotive Services, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 7/16/2027 |  |  | 2,000 |  |  |  | (10 | ) |  |  | (10 | ) |  |  | — |  |
Quality Automotive Services, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 7/16/2027 |  |  | 257 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Truck-Lite Co., LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 2/13/2032 |  |  | 1,905 |  |  |  | 1,904 |  |  |  | 1,899 |  |  |  | 0.27 |  |
Truck-Lite Co., LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 2/13/2032 |  |  | 993 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |
Truck-Lite Co., LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 9.88% |  | 2/13/2032 |  |  | 1,873 |  |  |  | 730 |  |  |  | 736 |  |  |  | 0.10 |  |
Truck-Lite Co., LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 9.13% |  | 2/13/2031 |  |  | 176 |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,537 |  |  |  | 18,498 |  |  |  | 2.64 |  |
Beverages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pegasus BidCo B.V. |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 2.75% |  | 6.73% |  | 7/12/2029 |  |  | 998 |  |  |  | 1,002 |  |  |  | 1,002 |  |  |  | 0.14 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,002 |  |  |  | 1,002 |  |  |  | 0.14 |  |

9

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Building Products |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
80/20, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 3/1/2027 |  | $ | 198 |  |  | $ | 198 |  |  | $ | 197 |  |  |  | 0.03 |  | %
MDC Interior Acquisition Inc |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 4/26/2030 |  |  | 291 |  |  |  | 290 |  |  |  | 290 |  |  |  | 0.04 |  |
MDC Interior Acquisition Inc |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 4/26/2030 |  |  | 756 |  |  |  | 752 |  |  |  | 752 |  |  |  | 0.11 |  |
MDC Interior Acquisition Inc |  | (7)(12) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 4/26/2030 |  |  | 42 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Surewerx Purchaser III Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 12/28/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
WST USA Holdco, Inc. |  | (6)(8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.83% |  | 3/31/2027 |  |  | 1,712 |  |  |  | 1,712 |  |  |  | 1,708 |  |  |  | 0.24 |  |
WST USA Holdco, Inc. |  | (6)(7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.83% |  | 3/31/2027 |  |  | 586 |  |  |  | 213 |  |  |  | 211 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,363 |  |  |  | 3,356 |  |  |  | 0.48 |  |
Capital Markets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allworth Financial Group, L.P. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 12/23/2027 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Arax MidCo, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 4/11/2029 |  |  | 4,298 |  |  |  | 4,270 |  |  |  | 4,298 |  |  |  | 0.61 |  |
Arax MidCo, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 4/11/2029 |  |  | 1,807 |  |  |  | 1,798 |  |  |  | 1,807 |  |  |  | 0.26 |  |
Arax MidCo, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 4/11/2029 |  |  | 3,096 |  |  |  | 138 |  |  |  | 146 |  |  |  | 0.02 |  |
Arax MidCo, LLC |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 4/11/2029 |  |  | 196 |  |  |  | 190 |  |  |  | 196 |  |  |  | 0.03 |  |
Arax MidCo, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 4/11/2029 |  |  | 431 |  |  |  | 48 |  |  |  | 52 |  |  |  | 0.01 |  |
Cub Financing Intermediate, LLC |  | (8)(14) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 6/28/2030 |  |  | 3,752 |  |  |  | 3,736 |  |  |  | 3,752 |  |  |  | 0.53 |  |
Cub Financing Intermediate, LLC |  | (7)(14) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 6/28/2030 |  |  | 1,741 |  |  |  | 706 |  |  |  | 717 |  |  |  | 0.10 |  |
Edgeco Buyer, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 6/1/2028 |  |  | 7,411 |  |  |  | 7,410 |  |  |  | 7,411 |  |  |  | 1.05 |  |
Edgeco Buyer, Inc. |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 6/1/2028 |  |  | 2,769 |  |  |  | 331 |  |  |  | 336 |  |  |  | 0.05 |  |
Edgeco Buyer, Inc. |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 6/1/2028 |  |  | 878 |  |  |  | 878 |  |  |  | 878 |  |  |  | 0.12 |  |
Edgeco Buyer, Inc. |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 6/1/2028 |  |  | 481 |  |  |  | 481 |  |  |  | 481 |  |  |  | 0.07 |  |
Edgeco Buyer, Inc. |  | (7)(12) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 6/1/2028 |  |  | 304 |  |  |  | 14 |  |  |  | 15 |  |  |  | — |  |
HighTower Holding, LLC |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.00% |  | 6.98% |  | 2/1/2030 |  |  | 110 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Lido Advisors, LLC |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 5/10/2032 |  |  | 199 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Lido Advisors, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 5/10/2032 |  |  | 3,513 |  |  |  | 1,238 |  |  |  | 1,235 |  |  |  | 0.18 |  |
Lido Advisors, LLC |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 5/10/2032 |  |  | 527 |  |  |  | 523 |  |  |  | 524 |  |  |  | 0.07 |  |
Lido Advisors, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 5/10/2032 |  |  | 615 |  |  |  | 356 |  |  |  | 356 |  |  |  | 0.05 |  |
The Ultimus Group Midco, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 7/1/2032 |  |  | 4,068 |  |  |  | 4,048 |  |  |  | 4,068 |  |  |  | 0.58 |  |
The Ultimus Group Midco, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 7/1/2032 |  |  | 1,356 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
The Ultimus Group Midco, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 7/1/2032 |  |  | 509 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 26,555 |  |  |  | 26,668 |  |  |  | 3.79 |  |

10

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Chemicals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americhem, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 3/1/2032 |  | $ | 10,474 |  |  | $ | 10,425 |  |  | $ | 10,422 |  |  |  | 1.48 |  | %
Americhem, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 3/1/2032 |  |  | 2,691 |  |  |  | (6 | ) |  |  | (13 | ) |  |  | — |  |
Americhem, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 3/1/2032 |  |  | 1,906 |  |  |  | (10 | ) |  |  | (10 | ) |  |  | — |  |
Aurora Plastics, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.98% |  | 8/12/2030 |  |  | 12,462 |  |  |  | 12,435 |  |  |  | 12,403 |  |  |  | 1.76 |  |
Aurora Plastics, LLC |  | (8)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.98% |  | 8/12/2030 |  |  | 1,409 |  |  |  | 1,409 |  |  |  | 1,402 |  |  |  | 0.20 |  |
Aurora Plastics, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.98% |  | 8/12/2030 |  |  | 1,140 |  |  |  | (3 | ) |  |  | (5 | ) |  |  | — |  |
Aurorium Global Holdings LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.75% |  | 9.88% |  | 12/22/2027 |  |  | 99 |  |  |  | 98 |  |  |  | 94 |  |  |  | 0.01 |  |
Boulder Scientific Company, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 12/31/2027 |  |  | 97 |  |  |  | 97 |  |  |  | 97 |  |  |  | 0.01 |  |
Bulab Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 7/1/2032 |  |  | 8,346 |  |  |  | 8,305 |  |  |  | 8,304 |  |  |  | 1.18 |  |
Bulab Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | E + 4.75% |  | 6.68% |  | 7/1/2032 |  |  | EUR 1,352 |  |  |  | 1,588 |  |  |  | 1,578 |  |  |  | 0.22 |  |
Bulab Holdings, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 7/1/2032 |  |  | 1,931 |  |  |  | (5 | ) |  |  | (10 | ) |  |  | — |  |
Bulab Holdings, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 7/1/2032 |  |  | 1,862 |  |  |  | (9 | ) |  |  | (9 | ) |  |  | — |  |
Charkit Chemical Company, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.88% |  | 9.11% |  | 12/29/2026 |  |  | 100 |  |  |  | 99 |  |  |  | 99 |  |  |  | 0.01 |  |
DCG Acquisition Corp. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 6/13/2031 |  |  | 6,991 |  |  |  | 6,991 |  |  |  | 6,938 |  |  |  | 0.99 |  |
DCG Acquisition Corp. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 6/13/2031 |  |  | 1,169 |  |  |  | 701 |  |  |  | 693 |  |  |  | 0.10 |  |
Hasa Acquisition, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 1/10/2029 |  |  | 198 |  |  |  | 199 |  |  |  | 198 |  |  |  | 0.03 |  |
LTI Holdings, Inc. |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 3.75% |  | 7.88% |  | 7/29/2029 |  |  | 1,980 |  |  |  | 1,988 |  |  |  | 2,000 |  |  |  | 0.28 |  |
Lubricant Engineers |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 9/1/2029 |  |  | 7,906 |  |  |  | 7,885 |  |  |  | 7,906 |  |  |  | 1.12 |  |
Lubricant Engineers |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 9/1/2029 |  |  | 1,372 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Lubricant Engineers |  | (7)(12) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 9/1/2029 |  |  | 885 |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |
Lummus Technology Holdings V LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 2.50% |  | 6.63% |  | 12/31/2029 |  |  | 249 |  |  |  | 249 |  |  |  | 250 |  |  |  | 0.04 |  |
Plaskolite PPC Intermediate II LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.00% |  | 12.13% (Incl. 4.00% PIK) |  | 5/9/2030 |  |  | 1,400 |  |  |  | 1,387 |  |  |  | 1,346 |  |  |  | 0.19 |  |
Plaskolite PPC Intermediate II LLC |  | (7)(12) |  | First Lien Revolver |  | S + 7.00% |  | 11.13% |  | 2/7/2030 |  |  | 101 |  |  |  | 10 |  |  |  | 4 |  |  |  | — |  |
Potters Industries LLC |  | (5)(7)(15) |  | First Lien Revolver |  | S + 2.75% |  | 6.83% |  | 9/14/2027 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Rocket Bidco, Inc. |  | (6)(8)(15) |  | First Lien Term Loan |  | C + 4.75% |  | 7.63% |  | 11/1/2030 |  |  | CAD 198 |  |  |  | 143 |  |  |  | 141 |  |  |  | 0.02 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 53,972 |  |  |  | 53,828 |  |  |  | 7.64 |  |
Commercial Services and Supplies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acuren Delaware Holdco, Inc. |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 2.75% |  | 6.88% |  | 7/30/2031 |  |  | 352 |  |  |  | 352 |  |  |  | 353 |  |  |  | 0.05 |  |
Anticimex Global AB |  | (5)(6)(8)(14) |  | First Lien Term Loan |  | S + 3.40% |  | 7.38% |  | 11/16/2028 |  |  | 1,604 |  |  |  | 1,604 |  |  |  | 1,611 |  |  |  | 0.23 |  |
Ares Holdings, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 11/18/2027 |  |  | 2,952 |  |  |  | 2,941 |  |  |  | 2,941 |  |  |  | 0.42 |  |
Ares Holdings, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 11/18/2027 |  |  | 198 |  |  |  | 197 |  |  |  | 197 |  |  |  | 0.03 |  |
AWP Group Holdings, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 12/23/2030 |  |  | 14,251 |  |  |  | 14,191 |  |  |  | 14,108 |  |  |  | 2.01 |  |
AWP Group Holdings, Inc. |  | (7)(12) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 12/23/2030 |  |  | 320 |  |  |  | 134 |  |  |  | 133 |  |  |  | 0.02 |  |
BCPE Empire Holdings, Inc. |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.25% |  | 7.38% |  | 12/11/2030 |  |  | 924 |  |  |  | 923 |  |  |  | 923 |  |  |  | 0.13 |  |
BIFM CA Buyer Inc. |  | (5)(6)(8)(14) |  | First Lien Term Loan |  | S + 3.75% |  | 7.88% |  | 5/31/2028 |  |  | 651 |  |  |  | 651 |  |  |  | 653 |  |  |  | 0.09 |  |
CoolSys, Inc. |  | (5)(8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.99% |  | 8/11/2028 |  |  | 198 |  |  |  | 195 |  |  |  | 178 |  |  |  | 0.03 |  |
Denali Buyerco LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 9/15/2028 |  |  | 4,788 |  |  |  | 4,788 |  |  |  | 4,788 |  |  |  | 0.68 |  |
Denali Buyerco LLC |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 9/15/2028 |  |  | 7,515 |  |  |  | 7,509 |  |  |  | 7,515 |  |  |  | 1.07 |  |

11

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Commercial Services and Supplies (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discovery Purchaser Corporation |  | (5)(6)(8)(14) |  | First Lien Term Loan |  | S + 3.75% |  | 7.73% |  | 10/4/2029 |  | $ | 3,475 |  |  | $ | 3,480 |  |  | $ | 3,463 |  |  |  | 0.49 |  | %
Ext Acquisitions, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 6/26/2026 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
FL Hawk Intermediate Holdings, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 2/22/2030 |  |  | 960 |  |  |  | 957 |  |  |  | 960 |  |  |  | 0.14 |  |
Fresh Holdco, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.38% |  | 1/24/2026 |  |  | 388 |  |  |  | 387 |  |  |  | 388 |  |  |  | 0.06 |  |
HeartLand PPC Buyer, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 12/12/2029 |  |  | 5,778 |  |  |  | 5,720 |  |  |  | 5,778 |  |  |  | 0.82 |  |
HeartLand PPC Buyer, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 12/12/2029 |  |  | 861 |  |  |  | 739 |  |  |  | 748 |  |  |  | 0.11 |  |
HeartLand PPC Buyer, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.25% |  | 9.38% |  | 12/12/2029 |  |  | 297 |  |  |  | 111 |  |  |  | 114 |  |  |  | 0.02 |  |
Hercules Borrower LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 12/15/2028 |  |  | 5,274 |  |  |  | 5,268 |  |  |  | 5,249 |  |  |  | 0.75 |  |
Hercules Borrower LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 12/15/2028 |  |  | 2,094 |  |  |  | (4 | ) |  |  | (10 | ) |  |  | — |  |
Hercules Borrower LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 12/15/2028 |  |  | 589 |  |  |  | (5 | ) |  |  | (3 | ) |  |  | — |  |
High Bar Brands Operating, LLC |  | (6)(8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 12/19/2029 |  |  | 198 |  |  |  | 196 |  |  |  | 198 |  |  |  | 0.03 |  |
HP RSS Buyer, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 12/11/2029 |  |  | 1,312 |  |  |  | 1,301 |  |  |  | 1,312 |  |  |  | 0.19 |  |
HP RSS Buyer, Inc. |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 12/11/2029 |  |  | 844 |  |  |  | 837 |  |  |  | 844 |  |  |  | 0.12 |  |
HP RSS Buyer, Inc. |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 12/11/2029 |  |  | 3,482 |  |  |  | 3,417 |  |  |  | 3,466 |  |  |  | 0.49 |  |
HP RSS Buyer, Inc. |  | (8)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 12/11/2029 |  |  | 280 |  |  |  | 278 |  |  |  | 280 |  |  |  | 0.04 |  |
HP RSS Buyer, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 12/11/2029 |  |  | 4,416 |  |  |  | 15 |  |  |  | 4 |  |  |  | — |  |
Low Voltage Holdings Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 4/28/2032 |  |  | 11,073 |  |  |  | 11,033 |  |  |  | 11,046 |  |  |  | 1.57 |  |
Low Voltage Holdings Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 4/28/2032 |  |  | 3,223 |  |  |  | (6 | ) |  |  | (8 | ) |  |  | — |  |
Low Voltage Holdings Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 4/28/2032 |  |  | 1,421 |  |  |  | (5 | ) |  |  | (4 | ) |  |  | — |  |
Low Voltage Holdings Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 4/28/2032 |  |  | CAD 178 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Monarch Landscape Holdings, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 10/2/2028 |  |  | 198 |  |  |  | 197 |  |  |  | 198 |  |  |  | 0.03 |  |
Onyx-Fire Protection Services Inc. |  | (6)(8)(13) |  | First Lien Term Loan |  | C + 4.50% |  | 7.06% |  | 7/31/2031 |  |  | CAD 9,080 |  |  |  | 6,532 |  |  |  | 6,523 |  |  |  | 0.93 |  |
Onyx-Fire Protection Services Inc. |  | (6)(7)(13) |  | First Lien Delayed Draw Term Loan |  | C + 4.50% |  | 7.06% |  | 7/31/2031 |  |  | CAD 860 |  |  |  | (6 | ) |  |  | — |  |  |  | — |  |
Onyx-Fire Protection Services Inc. |  | (6)(7)(13) |  | First Lien Revolver |  | C + 4.50% |  | 7.06% |  | 7/31/2031 |  |  | CAD 2,149 |  |  |  | 98 |  |  |  | 103 |  |  |  | 0.01 |  |
Palmetto Acquisitionco Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 9.73% |  | 9/18/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Pavion Corp. |  | (8)(13) |  | First Lien Term Loan |  | S + 3.75% |  | 10.13% (Incl. 2.25% PIK) |  | 10/30/2030 |  |  | 195 |  |  |  | 195 |  |  |  | 193 |  |  |  | 0.03 |  |
Service Logic Acquisition, Inc. |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.75% |  | 7.84% |  | 10/30/2025 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
The Hiller Companies, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 6/20/2030 |  |  | 7,394 |  |  |  | 7,363 |  |  |  | 7,394 |  |  |  | 1.05 |  |
The Hiller Companies, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 6/20/2030 |  |  | 2,045 |  |  |  | 1,889 |  |  |  | 1,904 |  |  |  | 0.27 |  |
The Hiller Companies, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 6/20/2030 |  |  | 1,079 |  |  |  | 366 |  |  |  | 365 |  |  |  | 0.05 |  |
The Hiller Companies, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 6/20/2030 |  |  | 1,299 |  |  |  | (6 | ) |  |  | — |  |  |  | — |  |
Thermostat Purchaser III, Inc. |  | (5)(8)(13) |  | First Lien Term Loan |  | S + 4.25% |  | 8.23% |  | 8/31/2028 |  |  | 198 |  |  |  | 198 |  |  |  | 199 |  |  |  | 0.03 |  |
Valet Waste Holdings, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 6.00% |  | 10.13% |  | 5/1/2029 |  |  | 5,184 |  |  |  | 5,142 |  |  |  | 5,184 |  |  |  | 0.74 |  |
Valet Waste Holdings, Inc. |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 6.00% |  | 10.13% |  | 5/1/2029 |  |  | 7,213 |  |  |  | (58 | ) |  |  | — |  |  |  | — |  |

12

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Commercial Services and Supplies (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
WRE Holding Corp. |  | (13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.85% |  | 7/2/2031 |  | $ | 252 |  |  | $ | 251 |  |  | $ | 250 |  |  |  | 0.04 |  | %
WRE Holding Corp. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.85% |  | 7/2/2031 |  |  | 2,293 |  |  |  | 2,283 |  |  |  | 2,275 |  |  |  | 0.32 |  |
WRE Holding Corp. |  | (13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 7/2/2031 |  |  | 63 |  |  |  | 63 |  |  |  | 63 |  |  |  | 0.01 |  |
WRE Holding Corp. |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 7/2/2031 |  |  | 39 |  |  |  | 39 |  |  |  | 38 |  |  |  | 0.01 |  |
WRE Holding Corp. |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.85% |  | 7/2/2031 |  |  | 235 |  |  |  | 235 |  |  |  | 234 |  |  |  | 0.03 |  |
WRE Holding Corp. |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.85% |  | 7/2/2030 |  |  | 316 |  |  |  | (1 | ) |  |  | (2 | ) |  |  | — |  |
YLG Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 12/23/2030 |  |  | 9,360 |  |  |  | 9,335 |  |  |  | 9,290 |  |  |  | 1.32 |  |
YLG Holdings, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 12/23/2030 |  |  | 1,375 |  |  |  | 812 |  |  |  | 805 |  |  |  | 0.11 |  |
YLG Holdings, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 12/23/2030 |  |  | 1,214 |  |  |  | 66 |  |  |  | 64 |  |  |  | 0.01 |  |
Zinc Buyer Corporation |  | (13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 7/24/2031 |  |  | 7,128 |  |  |  | 7,092 |  |  |  | 7,128 |  |  |  | 1.01 |  |
Zinc Buyer Corporation |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 7/24/2031 |  |  | 830 |  |  |  | (5 | ) |  |  | — |  |  |  | — |  |
Zinc Buyer Corporation |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 7/24/2031 |  |  | 790 |  |  |  | (5 | ) |  |  | — |  |  |  | — |  |
Zone Climate Services, Inc. |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 6.00% |  | 10.13% |  | 3/9/2028 |  |  | 3,180 |  |  |  | 371 |  |  |  | 393 |  |  |  | 0.05 |  |
Zone Climate Services, Inc. |  | (7)(12) |  | First Lien Revolver |  | S + 5.75% |  | 9.88% |  | 3/9/2028 |  |  | 636 |  |  |  | 293 |  |  |  | 298 |  |  |  | 0.04 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 110,339 |  |  |  | 110,520 |  |  |  | 15.74 |  |
Construction & Engineering |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ampirical Solutions, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.25% |  | 8.23% |  | 9/30/2032 |  |  | 1,770 |  |  |  | 1,761 |  |  |  | 1,761 |  |  |  | 0.25 |  |
Ampirical Solutions, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.25% |  | 8.23% |  | 9/30/2032 |  |  | 2,655 |  |  |  | (13 | ) |  |  | (13 | ) |  |  | — |  |
Ampirical Solutions, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.25% |  | 8.23% |  | 9/30/2032 |  |  | 708 |  |  |  | (7 | ) |  |  | (4 | ) |  |  | — |  |
CLS Management Services, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 3/27/2030 |  |  | 198 |  |  |  | 196 |  |  |  | 197 |  |  |  | 0.03 |  |
FR Vision Holdings Inc |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 1/20/2031 |  |  | 3,967 |  |  |  | 3,963 |  |  |  | 3,967 |  |  |  | 0.56 |  |
FR Vision Holdings Inc |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 1/20/2031 |  |  | 3,119 |  |  |  | 974 |  |  |  | 985 |  |  |  | 0.14 |  |
FR Vision Holdings Inc |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 1/22/2030 |  |  | 248 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Hydraulic Technologies USA LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.50% |  | 9.48% |  | 6/3/2031 |  |  | 830 |  |  |  | 817 |  |  |  | 816 |  |  |  | 0.12 |  |
Hydraulic Technologies USA LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.50% |  | 9.48% |  | 6/3/2030 |  |  | 114 |  |  |  | 51 |  |  |  | 51 |  |  |  | 0.01 |  |
Kleinfelder Intermediate LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 9/18/2030 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Mei Buyer LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 6/29/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Trilon Group, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 5/29/2029 |  |  | 3,884 |  |  |  | 3,863 |  |  |  | 3,854 |  |  |  | 0.55 |  |
Trilon Group, LLC |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 5/29/2029 |  |  | 4,177 |  |  |  | 4,125 |  |  |  | 4,143 |  |  |  | 0.59 |  |
Trilon Group, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 5/29/2029 |  |  | 1,995 |  |  |  | 552 |  |  |  | 543 |  |  |  | 0.08 |  |
Trilon Group, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 5/29/2029 |  |  | 1,212 |  |  |  | (7 | ) |  |  | (10 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16,671 |  |  |  | 16,686 |  |  |  | 2.39 |  |
Construction Materials |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pearlman Enterprises Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.73% |  | 5/5/2027 |  |  | 198 |  |  |  | 196 |  |  |  | 194 |  |  |  | 0.03 |  |
Red Fox CD Acquisition Corporation |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 6.00% |  | 9.98% |  | 3/4/2030 |  |  | 13,614 |  |  |  | 11,325 |  |  |  | 11,403 |  |  |  | 1.62 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,521 |  |  |  | 11,597 |  |  |  | 1.65 |  |

13

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Containers and Packaging |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Anchor Packaging, LLC |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.25% |  | 7.23% |  | 4/17/2029 |  | $ | 100 |  |  | $ | — |  |  | $ | — |  |  |  | — |  | %
Berlin Packaging LLC |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 3.25% |  | 7.38% |  | 6/9/2031 |  |  | 2,990 |  |  |  | 2,996 |  |  |  | 3,002 |  |  |  | 0.43 |  |
CFs Brands, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 10/2/2030 |  |  | 3,472 |  |  |  | 3,472 |  |  |  | 3,472 |  |  |  | 0.49 |  |
CFs Brands, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.00% |  | 9.13% |  | 10/2/2029 |  |  | 493 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Clydesdale Acquisition Holdings, Inc. |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.25% |  | 7.38% |  | 4/1/2032 |  |  | 1,961 |  |  |  | 1,947 |  |  |  | 1,960 |  |  |  | 0.28 |  |
Clydesdale Acquisition Holdings, Inc. |  | (5)(7)(8)(14) |  | First Lien Delayed Draw Term Loan |  | S + 3.25% |  | 7.38% |  | 4/1/2032 |  |  | 34 |  |  |  | 1 |  |  |  | 1 |  |  |  | — |  |
Cold Chain Technologies, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 9.73% |  | 7/2/2026 |  |  | 10,716 |  |  |  | 10,710 |  |  |  | 10,690 |  |  |  | 1.52 |  |
Cold Chain Technologies, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.75% |  | 9.73% |  | 7/2/2026 |  |  | 522 |  |  |  | 274 |  |  |  | 273 |  |  |  | 0.04 |  |
Nelipak Holding Company |  | (8)(12) |  | First Lien Term Loan |  | S + 5.50% |  | 9.63% |  | 3/26/2031 |  |  | 6,359 |  |  |  | 6,359 |  |  |  | 6,264 |  |  |  | 0.89 |  |
Nelipak Holding Company |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 9.63% |  | 3/26/2031 |  |  | 2,486 |  |  |  | — |  |  |  | (37 | ) |  |  | (0.01 | ) |
Nelipak Holding Company |  | (7)(12) |  | First Lien Revolver |  | S + 5.50% |  | 9.63% |  | 3/26/2031 |  |  | 1,855 |  |  |  | 1,150 |  |  |  | 1,122 |  |  |  | 0.16 |  |
Packaging Coordinators Midco, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 1/22/2032 |  |  | 9,169 |  |  |  | 9,161 |  |  |  | 9,123 |  |  |  | 1.30 |  |
Packaging Coordinators Midco, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 1/22/2032 |  |  | 4,882 |  |  |  | — |  |  |  | (24 | ) |  |  | — |  |
Packaging Coordinators Midco, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 1/22/2032 |  |  | 926 |  |  |  | (1 | ) |  |  | (5 | ) |  |  | — |  |
Plastipak Holdings, Inc. |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 2.50% |  | 6.48% |  | 9/10/2032 |  |  | 1,152 |  |  |  | 1,146 |  |  |  | 1,153 |  |  |  | 0.16 |  |
PLZ Corp. |  | (5)(8)(13) |  | First Lien Term Loan |  | S + 3.75% |  | 7.99% |  | 8/3/2026 |  |  | 99 |  |  |  | 96 |  |  |  | 89 |  |  |  | 0.01 |  |
Pro Mach Group, Inc. |  | (5)(8)(12) |  | First Lien Term Loan |  | S + 2.75% |  | 6.88% |  | 8/31/2028 |  |  | 1,163 |  |  |  | 1,168 |  |  |  | 1,167 |  |  |  | 0.17 |  |
Proampac PG Borrower LLC |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.75% |  | 7.99% |  | 6/16/2028 |  |  | 100 |  |  |  | 48 |  |  |  | 47 |  |  |  | 0.01 |  |
Ring Container Technologies Group, LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 2.50% |  | 6.48% |  | 9/15/2032 |  |  | 1,500 |  |  |  | 1,506 |  |  |  | 1,499 |  |  |  | 0.21 |  |
Rohrer Corp. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.10% |  | 3/15/2027 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
St Athena Global LLC |  | (6)(8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 6/26/2030 |  |  | 3,861 |  |  |  | 3,826 |  |  |  | 3,822 |  |  |  | 0.54 |  |
St Athena Global LLC |  | (6)(8)(13) |  | First Lien Term Loan |  | SON + 5.25% |  | 9.22% |  | 6/26/2030 |  |  | GBP 2,274 |  |  |  | 2,940 |  |  |  | 3,027 |  |  |  | 0.43 |  |
St Athena Global LLC |  | (6)(7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 6/26/2030 |  |  | 213 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
St Athena Global LLC |  | (6)(7)(13) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 6/26/2029 |  |  | 590 |  |  |  | 138 |  |  |  | 137 |  |  |  | 0.02 |  |
Tank Holding Corp. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.75% |  | 9.98% |  | 3/31/2028 |  |  | 198 |  |  |  | 196 |  |  |  | 188 |  |  |  | 0.03 |  |
TricorBraun Holdings, Inc. |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.25% |  | 7.38% |  | 3/3/2031 |  |  | 5,060 |  |  |  | 5,048 |  |  |  | 5,042 |  |  |  | 0.72 |  |
Trident TPI Holdings, Inc. |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.75% |  | 7.73% |  | 9/15/2028 |  |  | 2,481 |  |  |  | 2,486 |  |  |  | 2,441 |  |  |  | 0.35 |  |
Verde Purchaser, LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 4.00% |  | 7.98% |  | 11/30/2030 |  |  | 3,980 |  |  |  | 3,990 |  |  |  | 3,945 |  |  |  | 0.56 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 58,853 |  |  |  | 58,594 |  |  |  | 8.34 |  |
Distributors |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aurora Parts & Accessories LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 9.88% |  | 1/13/2029 |  |  | 99 |  |  |  | 98 |  |  |  | 99 |  |  |  | 0.01 |  |
BC Group Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 12/21/2027 |  |  | 4,107 |  |  |  | 4,082 |  |  |  | 4,087 |  |  |  | 0.58 |  |
BC Group Holdings, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 12/21/2027 |  |  | 7,099 |  |  |  | 4,892 |  |  |  | 4,908 |  |  |  | 0.70 |  |

14

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Distributors (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Blackbird Purchaser, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 9.48% |  | 12/19/2030 |  | $ | 184 |  |  | $ | 109 |  |  | $ | 109 |  |  |  | 0.02 |  | %
Blackbird Purchaser, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.50% |  | 9.48% |  | 12/19/2029 |  |  | 124 |  |  |  | 87 |  |  |  | 87 |  |  |  | 0.01 |  |
Blackhawk Industrial Distribution, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.38% |  | 9/17/2026 |  |  | 5,311 |  |  |  | 5,299 |  |  |  | 5,250 |  |  |  | 0.75 |  |
Blackhawk Industrial Distribution, Inc. |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.38% |  | 9/17/2026 |  |  | 114 |  |  |  | 113 |  |  |  | 112 |  |  |  | 0.02 |  |
Blackhawk Industrial Distribution, Inc. |  | (7)(12) |  | First Lien Revolver |  | S + 5.25% |  | 9.38% |  | 9/17/2026 |  |  | 1,028 |  |  |  | 458 |  |  |  | 451 |  |  |  | 0.06 |  |
BradyPlus Holdings, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 10/31/2029 |  |  | 6,235 |  |  |  | 6,235 |  |  |  | 6,235 |  |  |  | 0.89 |  |
BradyPlus Holdings, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 10/31/2029 |  |  | 700 |  |  |  | 228 |  |  |  | 230 |  |  |  | 0.03 |  |
Component Hardware Group, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 7/1/2026 |  |  | 91 |  |  |  | 91 |  |  |  | 91 |  |  |  | 0.01 |  |
DFS Holding Company, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 7.00% |  | 11.13% |  | 1/31/2029 |  |  | 198 |  |  |  | 196 |  |  |  | 187 |  |  |  | 0.03 |  |
Vessco Midco Holdings, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 7/24/2031 |  |  | 4,970 |  |  |  | 4,949 |  |  |  | 4,970 |  |  |  | 0.71 |  |
Vessco Midco Holdings, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 7/24/2031 |  |  | 1,657 |  |  |  | 892 |  |  |  | 900 |  |  |  | 0.13 |  |
Vessco Midco Holdings, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 7/24/2031 |  |  | 552 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 27,727 |  |  |  | 27,716 |  |  |  | 3.95 |  |
Diversified Consumer Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AAH Topco., LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.23% |  | 12/22/2027 |  |  | 2,970 |  |  |  | 258 |  |  |  | 266 |  |  |  | 0.04 |  |
American Residential Services LLC |  | (5)(7)(15) |  | First Lien Revolver |  | S + 2.50% |  | 6.48% |  | 1/31/2030 |  |  | 870 |  |  |  | — |  |  |  | (2 | ) |  |  | — |  |
Apex Service Partners, LLC |  | (12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 10/24/2030 |  |  | 4,813 |  |  |  | 4,793 |  |  |  | 4,792 |  |  |  | 0.68 |  |
Apex Service Partners, LLC |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 10/24/2030 |  |  | 774 |  |  |  | 771 |  |  |  | 771 |  |  |  | 0.11 |  |
Apex Service Partners, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 10/24/2029 |  |  | 660 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
Ascend Learning, LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.00% |  | 7.13% |  | 12/11/2028 |  |  | 997 |  |  |  | 999 |  |  |  | 998 |  |  |  | 0.14 |  |
Ave Holdings III, Corp. |  | (13) |  | First Lien Term Loan |  | S + 5.50% |  | 9.60% |  | 2/25/2028 |  |  | 6,253 |  |  |  | 6,158 |  |  |  | 6,066 |  |  |  | 0.86 |  |
Ave Holdings III, Corp. |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 9.60% |  | 2/25/2028 |  |  | 167 |  |  |  | 164 |  |  |  | 162 |  |  |  | 0.02 |  |
Ave Holdings III, Corp. |  | (7)(13) |  | First Lien Revolver |  | S + 5.50% |  | 9.60% |  | 2/25/2028 |  |  | 514 |  |  |  | (8 | ) |  |  | (15 | ) |  |  | — |  |
AVG Intermediate Holdings LLC |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 6.00% |  | 10.08% |  | 3/16/2027 |  |  | 198 |  |  |  | 195 |  |  |  | 195 |  |  |  | 0.03 |  |
Cop Hometown Acquisitions, Inc. (fka Cop Airco Acquisitions, Inc.) |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 7/16/2027 |  |  | 913 |  |  |  | 909 |  |  |  | 905 |  |  |  | 0.13 |  |
Cop Hometown Acquisitions, Inc. (fka Cop Airco Acquisitions, Inc.) |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 7/16/2027 |  |  | 3,970 |  |  |  | 3,951 |  |  |  | 3,939 |  |  |  | 0.56 |  |
CVP Holdco, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 6/30/2031 |  |  | 6,459 |  |  |  | 6,449 |  |  |  | 6,445 |  |  |  | 0.92 |  |
CVP Holdco, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 6/30/2031 |  |  | 1,715 |  |  |  | 365 |  |  |  | 367 |  |  |  | 0.05 |  |
CVP Holdco, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 6/28/2030 |  |  | 686 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Essential Services Holding Corporation |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 6/17/2031 |  |  | 2,014 |  |  |  | 2,010 |  |  |  | 2,010 |  |  |  | 0.29 |  |
Essential Services Holding Corporation |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 6/17/2031 |  |  | 395 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Essential Services Holding Corporation |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 6/17/2030 |  |  | 247 |  |  |  | 49 |  |  |  | 49 |  |  |  | 0.01 |  |
Fitness International LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 2/12/2029 |  |  | 10,798 |  |  |  | 10,797 |  |  |  | 10,882 |  |  |  | 1.55 |  |
Flint Opco, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 8/15/2030 |  |  | 3,219 |  |  |  | (8 | ) |  |  | — |  |  |  | — |  |
Flint Opco, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 8/15/2030 |  |  | 3,040 |  |  |  | 1,910 |  |  |  | 1,923 |  |  |  | 0.27 |  |

15

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Diversified Consumer Services (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FSHS I, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.50% |  | 9.63% |  | 11/18/2028 |  | $ | 198 |  |  | $ | 196 |  |  | $ | 196 |  |  |  | 0.03 |  | %
GS Seer Group Borrower, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 6.75% |  | 10.73% |  | 4/29/2030 |  |  | 99 |  |  |  | 98 |  |  |  | 96 |  |  |  | 0.01 |  |
GSV Holding, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 2.63% |  | 9.73% (Incl. 3.13% PIK) |  | 10/18/2030 |  |  | 4,967 |  |  |  | 4,946 |  |  |  | 4,942 |  |  |  | 0.70 |  |
GSV Holding, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 4.25% |  | 8.23% |  | 10/18/2030 |  |  | 217 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
Health Buyer LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 9.48% |  | 4/27/2029 |  |  | 3,299 |  |  |  | 643 |  |  |  | 655 |  |  |  | 0.09 |  |
Home Service Topco IV, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.58% |  | 12/31/2027 |  |  | 198 |  |  |  | 198 |  |  |  | 197 |  |  |  | 0.03 |  |
Innovetive Petcare, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.23% |  | 6/30/2028 |  |  | 5,419 |  |  |  | 5,419 |  |  |  | 5,365 |  |  |  | 0.76 |  |
Innovetive Petcare, Inc. |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 6/30/2028 |  |  | 1,998 |  |  |  | 651 |  |  |  | 636 |  |  |  | 0.09 |  |
Innovetive Petcare, Inc. |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 6/30/2028 |  |  | 1,509 |  |  |  | 1,509 |  |  |  | 1,494 |  |  |  | 0.21 |  |
Innovetive Petcare, Inc. |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.23% |  | 6/30/2028 |  |  | 6,241 |  |  |  | 6,230 |  |  |  | 6,179 |  |  |  | 0.88 |  |
Intel 471 INC. |  | (12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 9/27/2028 |  |  | 200 |  |  |  | 200 |  |  |  | 198 |  |  |  | 0.03 |  |
Learning Care Group (US) No. 2 Inc. |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 4.00% |  | 7.98% |  | 8/11/2028 |  |  | 992 |  |  |  | 991 |  |  |  | 978 |  |  |  | 0.14 |  |
Quick Quack Car Wash Holdings, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 6/10/2031 |  |  | 198 |  |  |  | 198 |  |  |  | 197 |  |  |  | 0.03 |  |
Quick Quack Car Wash Holdings, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 6/10/2031 |  |  | 4,941 |  |  |  | 798 |  |  |  | 789 |  |  |  | 0.11 |  |
Quick Quack Car Wash Holdings, LLC |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 6/10/2031 |  |  | 101 |  |  |  | 101 |  |  |  | 100 |  |  |  | 0.01 |  |
Seahawk Bidco, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 12/19/2031 |  |  | 5,789 |  |  |  | 5,770 |  |  |  | 5,789 |  |  |  | 0.82 |  |
Seahawk Bidco, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 12/19/2031 |  |  | 1,813 |  |  |  | 1,136 |  |  |  | 1,143 |  |  |  | 0.16 |  |
Seahawk Bidco, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 12/19/2030 |  |  | 545 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
Southern Veterinary Partners, LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 2.50% |  | 6.48% |  | 12/4/2031 |  |  | 937 |  |  |  | 939 |  |  |  | 936 |  |  |  | 0.13 |  |
Taymax Group Acquisition, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 6.00% |  | 10.23% |  | 7/31/2026 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Trackforce Acquireco, Inc. |  | (13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 6/23/2028 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
University Support Services LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 2.75% |  | 6.88% |  | 2/10/2029 |  |  | 2,374 |  |  |  | 2,343 |  |  |  | 2,342 |  |  |  | 0.33 |  |
US Fitness Holdings, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.50% |  | 9.48% |  | 9/4/2031 |  |  | 9,196 |  |  |  | 9,157 |  |  |  | 9,196 |  |  |  | 1.31 |  |
US Fitness Holdings, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 9.48% |  | 9/4/2031 |  |  | 1,764 |  |  |  | (9 | ) |  |  | — |  |  |  | — |  |
US Fitness Holdings, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.50% |  | 9.48% |  | 9/4/2030 |  |  | 172 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
Vertex Service Partners, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 6.00% |  | 9.98% |  | 11/8/2030 |  |  | 198 |  |  |  | 198 |  |  |  | 197 |  |  |  | 0.03 |  |
Vertex Service Partners, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 11/8/2030 |  |  | 250 |  |  |  | 48 |  |  |  | 40 |  |  |  | 0.01 |  |
VPP Intermediate Holdings, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 9.98% |  | 12/1/2027 |  |  | 1,851 |  |  |  | 1,845 |  |  |  | 1,847 |  |  |  | 0.26 |  |
VPP Intermediate Holdings, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.38% |  | 12/1/2027 |  |  | 3,210 |  |  |  | 617 |  |  |  | 602 |  |  |  | 0.09 |  |
VPP Intermediate Holdings, LLC |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 9.98% |  | 12/1/2027 |  |  | 2,231 |  |  |  | 2,223 |  |  |  | 2,226 |  |  |  | 0.32 |  |
VPP Intermediate Holdings, LLC |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 9.88% |  | 12/1/2027 |  |  | 2,624 |  |  |  | 2,614 |  |  |  | 2,611 |  |  |  | 0.37 |  |
VPP Intermediate Holdings, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.75% |  | 9.98% |  | 12/1/2027 |  |  | 229 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 89,209 |  |  |  | 89,099 |  |  |  | 12.67 |  |
Diversified Telecommunication Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Coral-US Co-Borrower LLC |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 3.25% |  | 7.23% |  | 1/31/2032 |  |  | 800 |  |  |  | 799 |  |  |  | 793 |  |  |  | 0.11 |  |
Guardian US Holdco LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.50% |  | 7.48% |  | 1/31/2030 |  |  | 2,227 |  |  |  | 2,235 |  |  |  | 2,231 |  |  |  | 0.32 |  |
Virgin Media Bristol LLC |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 3.18% |  | 7.12% |  | 3/31/2031 |  |  | 2,000 |  |  |  | 1,989 |  |  |  | 1,975 |  |  |  | 0.28 |  |
Zacapa S.a r.l. |  | (5)(6)(8)(14) |  | First Lien Term Loan |  | S + 3.75% |  | 7.73% |  | 3/22/2029 |  |  | 2,992 |  |  |  | 2,997 |  |  |  | 3,000 |  |  |  | 0.43 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,020 |  |  |  | 7,999 |  |  |  | 1.14 |  |

16

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Electrical Equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Infinite Bidco LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 6.25% |  | 10.23% |  | 3/2/2028 |  | $ | 99 |  |  | $ | 99 |  |  | $ | 97 |  |  |  | 0.01 |  | %
Power Grid Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 12/2/2030 |  |  | 8,912 |  |  |  | 8,912 |  |  |  | 8,812 |  |  |  | 1.25 |  |
Power Grid Holdings, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 12/2/2030 |  |  | 890 |  |  |  | 107 |  |  |  | 97 |  |  |  | 0.01 |  |
TPC Engineering Holdings, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.50% |  | 9.73% |  | 2/16/2027 |  |  | 7,050 |  |  |  | 7,007 |  |  |  | 7,050 |  |  |  | 1.00 |  |
TPC Engineering Holdings, Inc. |  | (7)(12) |  | First Lien Revolver |  | S + 5.50% |  | 9.73% |  | 2/16/2027 |  |  | 441 |  |  |  | 173 |  |  |  | 176 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16,298 |  |  |  | 16,232 |  |  |  | 2.30 |  |
Electronic Equipment, Instruments and Components |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dwyer Instruments, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 7/20/2029 |  |  | 3,860 |  |  |  | 3,828 |  |  |  | 3,821 |  |  |  | 0.54 |  |
Dwyer Instruments, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 7/20/2029 |  |  | 505 |  |  |  | (2 | ) |  |  | (5 | ) |  |  | — |  |
Dwyer Instruments, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 7/20/2029 |  |  | 706 |  |  |  | 50 |  |  |  | 50 |  |  |  | 0.01 |  |
Excelitas Technologies Corp. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.38% |  | 8/13/2029 |  |  | 2,522 |  |  |  | (10 | ) |  |  | (3 | ) |  |  | — |  |
Phoenix 1 Buyer Corp. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 11/20/2030 |  |  | 5,799 |  |  |  | 5,799 |  |  |  | 5,799 |  |  |  | 0.82 |  |
Phoenix 1 Buyer Corp. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 11/20/2029 |  |  | 1,142 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Wildcat Topco, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 11/17/2031 |  |  | 1,502 |  |  |  | 1,496 |  |  |  | 1,498 |  |  |  | 0.21 |  |
Wildcat Topco, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 11/17/2031 |  |  | 270 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Wildcat Topco, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 11/17/2031 |  |  | 270 |  |  |  | 6 |  |  |  | 7 |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,166 |  |  |  | 11,166 |  |  |  | 1.58 |  |
Energy Equipment and Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRCI Longhorn Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 8/27/2031 |  |  | 6,072 |  |  |  | 6,047 |  |  |  | 6,072 |  |  |  | 0.86 |  |
CRCI Longhorn Holdings, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 8/27/2031 |  |  | 1,530 |  |  |  | (7 | ) |  |  | — |  |  |  | — |  |
CRCI Longhorn Holdings, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 8/27/2031 |  |  | 1,020 |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |
DMC Holdco, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 7/13/2029 |  |  | 198 |  |  |  | 196 |  |  |  | 198 |  |  |  | 0.03 |  |
Integrated Power Services Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.99% |  | 11/22/2028 |  |  | 7,345 |  |  |  | 7,341 |  |  |  | 7,333 |  |  |  | 1.04 |  |
Integrated Power Services Holdings, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.99% |  | 11/22/2028 |  |  | 5,106 |  |  |  | (11 | ) |  |  | (10 | ) |  |  | — |  |
Phillips & Temro Industries Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.38% |  | 3/12/2027 |  |  | 192 |  |  |  | 192 |  |  |  | 191 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13,754 |  |  |  | 13,784 |  |  |  | 1.96 |  |
Financial Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1364720 B.C. LTD. |  | (6)(8)(13) |  | First Lien Term Loan |  | C + 4.50% |  | 7.38% |  | 9/9/2028 |  |  | CAD 8,954 |  |  |  | 6,327 |  |  |  | 6,432 |  |  |  | 0.91 |  |
1364720 B.C. LTD. |  | (6)(7)(13) |  | First Lien Delayed Draw Term Loan |  | C + 4.50% |  | 7.38% |  | 9/9/2028 |  |  | CAD 5,598 |  |  |  | 3,590 |  |  |  | 3,545 |  |  |  | 0.50 |  |
Aprio Advisory Group, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 8/1/2031 |  |  | 8,313 |  |  |  | 8,294 |  |  |  | 8,273 |  |  |  | 1.18 |  |
Aprio Advisory Group, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 8/1/2031 |  |  | 4,167 |  |  |  | 931 |  |  |  | 922 |  |  |  | 0.13 |  |
Aprio Advisory Group, LLC |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 8/1/2031 |  |  | 3,257 |  |  |  | 3,252 |  |  |  | 3,242 |  |  |  | 0.46 |  |
Aprio Advisory Group, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 8/1/2031 |  |  | 1,638 |  |  |  | (3 | ) |  |  | (8 | ) |  |  | — |  |
Ascensus Group Holdings, Inc. |  | (5)(6)(8)(14) |  | First Lien Term Loan |  | S + 3.00% |  | 7.13% |  | 8/2/2028 |  |  | 2,740 |  |  |  | 2,747 |  |  |  | 2,741 |  |  |  | 0.39 |  |

17

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Financial Services (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cerity Partners Equity Holding LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 7/30/2029 |  | $ | 5,000 |  |  | $ | 333 |  |  | $ | 354 |  |  |  | 0.05 |  | %
Cerity Partners Equity Holding LLC |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 7/28/2029 |  |  | 11,399 |  |  |  | 11,376 |  |  |  | 11,399 |  |  |  | 1.62 |  |
Cerity Partners Equity Holding LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.25% |  | 9.38% |  | 7/28/2028 |  |  | 543 |  |  |  | 67 |  |  |  | 68 |  |  |  | 0.01 |  |
CFGI Holdings, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 11/2/2027 |  |  | 6,247 |  |  |  | 6,211 |  |  |  | 6,212 |  |  |  | 0.88 |  |
CFGI Holdings, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 11/2/2027 |  |  | 270 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
Cherry Bekaert Advisory LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.38% |  | 6/30/2028 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
ClearCapital Holdings, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 6/30/2032 |  |  | 2,151 |  |  |  | 2,137 |  |  |  | 2,138 |  |  |  | 0.30 |  |
ClearCapital Holdings, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 6/30/2032 |  |  | 1,024 |  |  |  | (3 | ) |  |  | (6 | ) |  |  | — |  |
ClearCapital Holdings, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 6/30/2032 |  |  | 410 |  |  |  | (3 | ) |  |  | (2 | ) |  |  | — |  |
Contractual Buyer, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.75% |  | 9.73% |  | 10/10/2030 |  |  | 198 |  |  |  | 198 |  |  |  | 197 |  |  |  | 0.03 |  |
Focus Financial Partners, LLC |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 2.75% |  | 6.88% |  | 9/15/2031 |  |  | 5,055 |  |  |  | 5,043 |  |  |  | 5,062 |  |  |  | 0.72 |  |
Foreside Financial Group, LLC |  | (12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.38% |  | 9/30/2027 |  |  | 564 |  |  |  | 564 |  |  |  | 564 |  |  |  | 0.08 |  |
Foreside Financial Group, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.38% |  | 9/30/2027 |  |  | 11,643 |  |  |  | 1,358 |  |  |  | 1,358 |  |  |  | 0.19 |  |
Frazier & Deeter Advisory, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 5/3/2032 |  |  | 2,203 |  |  |  | 2,194 |  |  |  | 2,203 |  |  |  | 0.31 |  |
Frazier & Deeter Advisory, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.48% |  | 5/3/2032 |  |  | 937 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
Frazier & Deeter Advisory, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 5/2/2031 |  |  | 325 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
GTCR Everest Borrower, LLC |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 2.75% |  | 6.73% |  | 9/5/2031 |  |  | 384 |  |  |  | 383 |  |  |  | 384 |  |  |  | 0.05 |  |
Heights Buyer, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 9.83% |  | 8/25/2028 |  |  | 5,307 |  |  |  | 5,307 |  |  |  | 5,307 |  |  |  | 0.75 |  |
Heights Buyer, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.08% |  | 8/25/2028 |  |  | 923 |  |  |  | 919 |  |  |  | 919 |  |  |  | 0.13 |  |
Heights Buyer, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.08% |  | 8/25/2028 |  |  | 1,254 |  |  |  | (3 | ) |  |  | (6 | ) |  |  | — |  |
Heights Buyer, LLC |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 9.83% |  | 8/25/2028 |  |  | 869 |  |  |  | 861 |  |  |  | 869 |  |  |  | 0.12 |  |
Heights Buyer, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.75% |  | 9.83% |  | 8/25/2028 |  |  | 764 |  |  |  | 87 |  |  |  | 87 |  |  |  | 0.01 |  |
Kestra Advisor Services Holdings A, Inc. |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 3.00% |  | 7.13% |  | 3/22/2031 |  |  | 2,209 |  |  |  | 2,211 |  |  |  | 2,213 |  |  |  | 0.31 |  |
Kriv Acquisition Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 7/31/2031 |  |  | 452 |  |  |  | 451 |  |  |  | 449 |  |  |  | 0.06 |  |
Kriv Acquisition Inc. |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 7/31/2031 |  |  | 2,042 |  |  |  | (7 | ) |  |  | (10 | ) |  |  | — |  |
Kriv Acquisition Inc. |  | (7)(12) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 7/31/2031 |  |  | 186 |  |  |  | 17 |  |  |  | 17 |  |  |  | — |  |
Minotaur Acquisition, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 6/3/2030 |  |  | 8,616 |  |  |  | 8,542 |  |  |  | 8,542 |  |  |  | 1.21 |  |
Minotaur Acquisition, Inc. |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 6/3/2030 |  |  | 1,407 |  |  |  | 1,395 |  |  |  | 1,395 |  |  |  | 0.20 |  |
Minotaur Acquisition, Inc. |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 6/3/2030 |  |  | 1,455 |  |  |  | (12 | ) |  |  | (12 | ) |  |  | — |  |
Minotaur Acquisition, Inc. |  | (7)(12) |  | First Lien Revolver |  | S + 5.00% |  | 9.13% |  | 6/3/2030 |  |  | 873 |  |  |  | (7 | ) |  |  | (7 | ) |  |  | — |  |
NAB Holdings, LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 2.50% |  | 6.48% |  | 11/23/2028 |  |  | 2,494 |  |  |  | 2,469 |  |  |  | 2,416 |  |  |  | 0.34 |  |
Neon Maple Purchaser Inc. |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 2.75% |  | 6.88% |  | 11/17/2031 |  |  | 4,975 |  |  |  | 4,995 |  |  |  | 4,981 |  |  |  | 0.71 |  |
Osaic Holdings, Inc. |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 3.00% |  | 7.13% |  | 7/30/2032 |  |  | 2,370 |  |  |  | 2,372 |  |  |  | 2,372 |  |  |  | 0.34 |  |
Osttra Group Ltd. |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 3.50% |  | 7.48% |  | 5/20/2032 |  |  | 721 |  |  |  | 717 |  |  |  | 725 |  |  |  | 0.10 |  |
Pathstone Family Office LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.23% |  | 5/15/2029 |  |  | 3,771 |  |  |  | 3,756 |  |  |  | 3,762 |  |  |  | 0.53 |  |
Pathstone Family Office LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.23% |  | 5/15/2029 |  |  | 1,454 |  |  |  | (9 | ) |  |  | (4 | ) |  |  | — |  |
Pathstone Family Office LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.00% |  | 9.23% |  | 5/15/2028 |  |  | 374 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Petrus Buyer, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 10/17/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |

18

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Financial Services (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project Accelerate Parent LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 2/24/2031 |  | $ | 100 |  |  | $ | — |  |  | $ | — |  |  |  | — |  | %
Ryan, LLC |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.00% |  | 7.13% |  | 11/14/2028 |  |  | 100 |  |  |  | 49 |  |  |  | 49 |  |  |  | 0.01 |  |
The Chartis Group, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 9/17/2031 |  |  | 1,256 |  |  |  | 1,251 |  |  |  | 1,250 |  |  |  | 0.18 |  |
The Chartis Group, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.48% |  | 9/17/2031 |  |  | 388 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
The Chartis Group, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 9/17/2031 |  |  | 194 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Wealth Enhancement Group, LLC |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.48% |  | 10/2/2028 |  |  | 198 |  |  |  | 197 |  |  |  | 198 |  |  |  | 0.03 |  |
Wealth Enhancement Group, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.48% |  | 10/2/2028 |  |  | 12,105 |  |  |  | 1,504 |  |  |  | 1,491 |  |  |  | 0.21 |  |
Wealth Enhancement Group, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 10/2/2028 |  |  | 323 |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 92,443 |  |  |  | 92,470 |  |  |  | 13.11 |  |
Food Products |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BCPE North Star US Holdco 2, Inc. |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.75% |  | 7.88% |  | 3/10/2028 |  |  | 100 |  |  |  | 34 |  |  |  | 39 |  |  |  | 0.01 |  |
Fiesta Purchaser, Inc. |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 2.75% |  | 6.88% |  | 2/12/2031 |  |  | 4,153 |  |  |  | 4,164 |  |  |  | 4,150 |  |  |  | 0.59 |  |
Primary Products Finance LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.25% |  | 7.23% |  | 4/1/2029 |  |  | 4,011 |  |  |  | 4,027 |  |  |  | 3,924 |  |  |  | 0.56 |  |
RB Holdings Interco, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 5/4/2028 |  |  | 198 |  |  |  | 195 |  |  |  | 198 |  |  |  | 0.03 |  |
Sigma Holdco B.V. |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 3.75% |  | 7.76% |  | 1/3/2028 |  |  | 4,077 |  |  |  | 4,086 |  |  |  | 3,942 |  |  |  | 0.56 |  |
Sugar Ppc Buyer LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 10/2/2031 |  |  | 6,795 |  |  |  | 2,007 |  |  |  | 2,002 |  |  |  | 0.28 |  |
WPP Bullet Buyer, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 12/7/2030 |  |  | 5,130 |  |  |  | 5,098 |  |  |  | 5,079 |  |  |  | 0.72 |  |
WPP Bullet Buyer, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 12/7/2029 |  |  | 83 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19,610 |  |  |  | 19,333 |  |  |  | 2.75 |  |
Gas Utilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Edpo, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 12/10/2029 |  |  | 11,569 |  |  |  | 11,562 |  |  |  | 11,513 |  |  |  | 1.64 |  |
Edpo, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 12/10/2029 |  |  | 1,657 |  |  |  | (4 | ) |  |  | (8 | ) |  |  | — |  |
Edpo, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 12/8/2028 |  |  | 744 |  |  |  | 65 |  |  |  | 65 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,623 |  |  |  | 11,570 |  |  |  | 1.65 |  |
Ground Transportation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AMS Parent, LLC |  | (5)(8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.99% |  | 10/25/2028 |  |  | 198 |  |  |  | 196 |  |  |  | 187 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 196 |  |  |  | 187 |  |  |  | 0.03 |  |
Health Care Technology |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acentra Holdings, LLC |  | (8)(14) |  | First Lien Term Loan |  | S + 5.50% |  | 9.48% |  | 12/17/2029 |  |  | 76 |  |  |  | 75 |  |  |  | 76 |  |  |  | 0.01 |  |
Acentra Holdings, LLC |  | (7)(14) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 9.48% |  | 12/17/2029 |  |  | 220 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Athenahealth Group Inc. |  | (5)(7)(15) |  | First Lien Revolver |  | S + 2.75% |  | 6.88% |  | 2/15/2027 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Bracket Intermediate Holding Corp. |  | (7)(14) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 2/7/2028 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Caerus US 1 Inc. |  | (6)(8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 5/25/2029 |  |  | 198 |  |  |  | 195 |  |  |  | 198 |  |  |  | 0.03 |  |
Continental Buyer, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 4/2/2031 |  |  | 6,720 |  |  |  | 6,720 |  |  |  | 6,704 |  |  |  | 0.95 |  |
Continental Buyer, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 4/2/2031 |  |  | 1,818 |  |  |  | 134 |  |  |  | 131 |  |  |  | 0.02 |  |
Continental Buyer, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 4/2/2031 |  |  | 1,398 |  |  |  | (2 | ) |  |  | (3 | ) |  |  | — |  |
Cotiviti, Inc. |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 2.75% |  | 6.88% |  | 3/26/2032 |  |  | 4,924 |  |  |  | 4,876 |  |  |  | 4,844 |  |  |  | 0.69 |  |
DeLorean Purchaser, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 12/16/2031 |  |  | 4,334 |  |  |  | 4,305 |  |  |  | 4,302 |  |  |  | 0.61 |  |
DeLorean Purchaser, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 12/16/2031 |  |  | 653 |  |  |  | (5 | ) |  |  | (5 | ) |  |  | — |  |
Empower Payments Investor, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 3/12/2031 |  |  | 5,248 |  |  |  | 5,240 |  |  |  | 5,210 |  |  |  | 0.74 |  |

19

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Health Care Technology (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Empower Payments Investor, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 3/12/2031 |  | $ | 1,805 |  |  | $ | (4 | ) |  | $ | (14 | ) |  |  | — |  | %
Empower Payments Investor, LLC |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 3/12/2031 |  |  | 304 |  |  |  | 304 |  |  |  | 302 |  |  |  | 0.04 |  |
Empower Payments Investor, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 3/12/2030 |  |  | 163 |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |
Ensemble RCM, LLC |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.00% |  | 6.98% |  | 6/27/2028 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
F&M Buyer LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 3/18/2032 |  |  | 3,582 |  |  |  | 3,565 |  |  |  | 3,582 |  |  |  | 0.51 |  |
F&M Buyer LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.48% |  | 3/18/2032 |  |  | 1,194 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
F&M Buyer LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 3/18/2032 |  |  | 522 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
Goldeneye Parent, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 3/31/2032 |  |  | 12,018 |  |  |  | 11,990 |  |  |  | 12,018 |  |  |  | 1.71 |  |
Goldeneye Parent, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 9.13% |  | 3/31/2032 |  |  | 1,744 |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |
HT Intermediary III, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 11/12/2030 |  |  | 6,253 |  |  |  | 6,228 |  |  |  | 6,221 |  |  |  | 0.88 |  |
HT Intermediary III, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 11/12/2030 |  |  | 1,527 |  |  |  | (3 | ) |  |  | (8 | ) |  |  | — |  |
HT Intermediary III, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 11/12/2030 |  |  | 573 |  |  |  | 17 |  |  |  | 16 |  |  |  | — |  |
IMO Investor Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.85% |  | 5/11/2029 |  |  | 3,210 |  |  |  | 3,210 |  |  |  | 3,210 |  |  |  | 0.46 |  |
IMO Investor Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 5/11/2029 |  |  | 337 |  |  |  | 337 |  |  |  | 337 |  |  |  | 0.05 |  |
IMO Investor Holdings, Inc. |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.85% |  | 5/11/2029 |  |  | 385 |  |  |  | 385 |  |  |  | 385 |  |  |  | 0.05 |  |
IMO Investor Holdings, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.85% |  | 5/11/2028 |  |  | 370 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Invictus Buyer, LLC |  | (13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 6/3/2031 |  |  | 7,760 |  |  |  | 7,760 |  |  |  | 7,760 |  |  |  | 1.10 |  |
Invictus Buyer, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 6/3/2031 |  |  | 3,266 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Invictus Buyer, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 6/3/2031 |  |  | 1,210 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Net Health Acquisition Corp. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 7/7/2031 |  |  | 7,531 |  |  |  | 7,487 |  |  |  | 7,493 |  |  |  | 1.07 |  |
Net Health Acquisition Corp. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 7/3/2031 |  |  | 1,497 |  |  |  | 1,489 |  |  |  | 1,489 |  |  |  | 0.21 |  |
Net Health Acquisition Corp. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 7/7/2031 |  |  | 973 |  |  |  | (4 | ) |  |  | (5 | ) |  |  | — |  |
SDS Buyer, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.83% |  | 9/30/2027 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Swoop Intermediate III, Inc. |  | (8)(14) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 4/12/2032 |  |  | 5,161 |  |  |  | 5,149 |  |  |  | 5,149 |  |  |  | 0.73 |  |
Swoop Intermediate III, Inc. |  | (7)(14) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 4/12/2032 |  |  | 3,643 |  |  |  | (4 | ) |  |  | (9 | ) |  |  | — |  |
Swoop Intermediate III, Inc. |  | (7)(14) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 4/12/2032 |  |  | 1,214 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |
Unlimited Technology Holdings, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 3/12/2032 |  |  | 5,586 |  |  |  | 5,572 |  |  |  | 5,572 |  |  |  | 0.79 |  |
Unlimited Technology Holdings, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 3/12/2032 |  |  | 747 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
Wisdom Purchaser, LLC |  | (8)(14) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 7/24/2032 |  |  | 6,152 |  |  |  | 6,136 |  |  |  | 6,137 |  |  |  | 0.87 |  |
Wisdom Purchaser, LLC |  | (7)(14) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 7/24/2032 |  |  | 636 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
Zelis Cost Management Buyer, Inc. |  | (5)(7)(15) |  | First Lien Revolver |  | S + 2.75% |  | 6.73% |  | 1/17/2029 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 81,333 |  |  |  | 81,282 |  |  |  | 11.55 |  |
Healthcare Equipment and Supplies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alcor Scientific LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.73% |  | 1/31/2028 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Aspen Medical Products, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 6/10/2028 |  |  | 1,833 |  |  |  | 1,833 |  |  |  | 1,833 |  |  |  | 0.26 |  |
Belmont Instrument, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 8/19/2028 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Blades Buyer, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.23% |  | 3/28/2028 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Blades Buyer, Inc. |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.23% |  | 3/28/2028 |  |  | 7 |  |  |  | 7 |  |  |  | 7 |  |  |  | — |  |
Cadence, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 5/21/2026 |  |  | 198 |  |  |  | 198 |  |  |  | 197 |  |  |  | 0.03 |  |
CDL Parent, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 12/7/2027 |  |  | 198 |  |  |  | 198 |  |  |  | 197 |  |  |  | 0.03 |  |
CDL Parent, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 12/7/2027 |  |  | 2,802 |  |  |  | 2,790 |  |  |  | 2,788 |  |  |  | 0.40 |  |

20

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Healthcare Equipment and Supplies (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CDL Parent, Inc. |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 12/7/2027 |  | $ | 702 |  |  | $ | (2 | ) |  | $ | (4 | ) |  |  | — |  | %
CPC/Cirtec Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 1/30/2029 |  |  | 1,652 |  |  |  | 1,646 |  |  |  | 1,644 |  |  |  | 0.23 |  |
CPC/Cirtec Holdings, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 9.13% |  | 10/31/2028 |  |  | 558 |  |  |  | 87 |  |  |  | 86 |  |  |  | 0.01 |  |
Resonetics, LLC |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.75% |  | 7.73% |  | 6/18/2029 |  |  | 100 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
TIDI Legacy Products, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 12/19/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,552 |  |  |  | 7,544 |  |  |  | 1.08 |  |
Healthcare Providers and Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
123Dentist Inc. |  | (6)(7)(13) |  | First Lien Delayed Draw Term Loan |  | C + 5.00% |  | 7.56% |  | 8/10/2029 |  |  | CAD 10,084 |  |  |  | 5,881 |  |  |  | 5,924 |  |  |  | 0.84 |  |
AB Centers Acquisition Corporation |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.38% |  | 7/2/2031 |  |  | 6,094 |  |  |  | 6,067 |  |  |  | 6,072 |  |  |  | 0.86 |  |
AB Centers Acquisition Corporation |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.38% |  | 7/2/2031 |  |  | 452 |  |  |  | 159 |  |  |  | 160 |  |  |  | 0.02 |  |
AB Centers Acquisition Corporation |  | (7)(13) |  | First Lien Revolver |  | S + 5.25% |  | 9.38% |  | 7/2/2031 |  |  | 428 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
ACI Group Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 2.75% |  | 10.23% (Incl. 3.25% PIK) |  | 8/2/2028 |  |  | 205 |  |  |  | 205 |  |  |  | 198 |  |  |  | 0.03 |  |
Arrow Management Acquisition, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 7/26/2032 |  |  | 2,197 |  |  |  | 2,186 |  |  |  | 2,187 |  |  |  | 0.31 |  |
Arrow Management Acquisition, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 7/26/2032 |  |  | 785 |  |  |  | (2 | ) |  |  | (4 | ) |  |  | — |  |
Arrow Management Acquisition, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 7/26/2032 |  |  | 262 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Azalea TopCo, Inc. |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 3.00% |  | 7.13% |  | 4/30/2031 |  |  | 1,496 |  |  |  | 1,498 |  |  |  | 1,494 |  |  |  | 0.21 |  |
Cardiology Management Holdings, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 9.73% |  | 1/31/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 196 |  |  |  | 0.03 |  |
Community Medical Acquisition Corp. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.60% |  | 12/15/2028 |  |  | 99 |  |  |  | 97 |  |  |  | 99 |  |  |  | 0.01 |  |
Crown Laundry, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 5/28/2031 |  |  | 2,674 |  |  |  | 2,661 |  |  |  | 2,664 |  |  |  | 0.38 |  |
Crown Laundry, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 5/28/2031 |  |  | 435 |  |  |  | (1 | ) |  |  | (2 | ) |  |  | — |  |
Crown Laundry, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 5/28/2031 |  |  | 507 |  |  |  | (3 | ) |  |  | (2 | ) |  |  | — |  |
CVR Management, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 1/4/2027 |  |  | 9 |  |  |  | 9 |  |  |  | 9 |  |  |  | — |  |
CVR Management, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 1/4/2027 |  |  | 111 |  |  |  | — |  |  |  | — |  |  |  | — |  |
CVR Management, LLC |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 1/4/2027 |  |  | 198 |  |  |  | 198 |  |  |  | 197 |  |  |  | 0.03 |  |
DCA Investment Holding LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 6.41% |  | 10.38% |  | 4/3/2028 |  |  | 198 |  |  |  | 195 |  |  |  | 181 |  |  |  | 0.03 |  |
Docs, MSO, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.75% |  | 9.98% |  | 6/1/2028 |  |  | 99 |  |  |  | 98 |  |  |  | 99 |  |  |  | 0.01 |  |
ENT MSO, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 12/31/2028 |  |  | 159 |  |  |  | 159 |  |  |  | 158 |  |  |  | 0.02 |  |
EPFS Buyer, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 7/31/2031 |  |  | 6,040 |  |  |  | 6,009 |  |  |  | 6,011 |  |  |  | 0.85 |  |
EPFS Buyer, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 7/31/2031 |  |  | 1,029 |  |  |  | (3 | ) |  |  | (5 | ) |  |  | — |  |
EPFS Buyer, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 7/31/2031 |  |  | 686 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |
Eyesouth Eye Care Holdco, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.50% |  | 9.73% |  | 10/5/2029 |  |  | 2,118 |  |  |  | 2,118 |  |  |  | 2,118 |  |  |  | 0.30 |  |
Eyesouth Eye Care Holdco, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 9.73% |  | 10/5/2029 |  |  | 4,293 |  |  |  | 2,430 |  |  |  | 2,454 |  |  |  | 0.35 |  |
Golden State Buyer, Inc. |  | (5)(8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.98% |  | 3/21/2027 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
ImageFirst Holdings, LLC |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.25% |  | 7.23% |  | 3/12/2030 |  |  | 2,800 |  |  |  | — |  |  |  | — |  |  |  | — |  |
IvyRehab Intermediate II, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 9.08% |  | 4/23/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
JKC Parent, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 2/13/2032 |  |  | 377 |  |  |  | 376 |  |  |  | 375 |  |  |  | 0.05 |  |
JKC Parent, Inc. |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 2/13/2032 |  |  | 131 |  |  |  | 126 |  |  |  | 130 |  |  |  | 0.02 |  |
JKC Parent, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 2/13/2032 |  |  | 702 |  |  |  | (3 | ) |  |  | (4 | ) |  |  | — |  |
JKC Parent, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 2/13/2032 |  |  | 87 |  |  |  | — |  |  |  | — |  |  |  | — |  |
MRO Corporation |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 6/9/2032 |  |  | 9,138 |  |  |  | 9,070 |  |  |  | 9,070 |  |  |  | 1.29 |  |
MRO Corporation |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 6/9/2032 |  |  | 795 |  |  |  | (3 | ) |  |  | (6 | ) |  |  | — |  |
MRO Corporation |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 6/9/2032 |  |  | 795 |  |  |  | (6 | ) |  |  | (6 | ) |  |  | — |  |

21

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Healthcare Providers and Services (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OB Hospitalist Group, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.48% |  | 9/27/2027 |  | $ | 198 |  |  | $ | 198 |  |  | $ | 198 |  |  |  | 0.03 |  | %
OIS Management Services, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 11/16/2028 |  |  | 3,802 |  |  |  | 3,742 |  |  |  | 3,755 |  |  |  | 0.53 |  |
OIS Management Services, LLC |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 11/16/2028 |  |  | 3,127 |  |  |  | 3,077 |  |  |  | 3,088 |  |  |  | 0.44 |  |
ONS MSO, LLC |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 9.73% |  | 7/7/2028 |  |  | 212 |  |  |  | 210 |  |  |  | 206 |  |  |  | 0.03 |  |
ONS MSO, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 6.25% |  | 10.23% |  | 7/7/2028 |  |  | 24 |  |  |  | 7 |  |  |  | 6 |  |  |  | — |  |
Onsite Holdings, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 6.75% |  | 11.04% PIK |  | 12/28/2027 |  |  | 346 |  |  |  | 346 |  |  |  | 345 |  |  |  | 0.05 |  |
Onsite Holdings, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 6.75% |  | 11.04% PIK |  | 12/28/2027 |  |  | 938 |  |  |  | (5 | ) |  |  | (5 | ) |  |  | — |  |
Onsite Holdings, LLC |  | (12) |  | First Lien Revolver |  | S + 6.75% |  | 11.04% PIK |  | 12/28/2025 |  |  | 94 |  |  |  | 94 |  |  |  | 94 |  |  |  | 0.01 |  |
Orsini Pharmaceutical Services, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 5/22/2031 |  |  | 3,343 |  |  |  | 3,328 |  |  |  | 3,311 |  |  |  | 0.47 |  |
Orsini Pharmaceutical Services, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 5/22/2030 |  |  | 226 |  |  |  | (1 | ) |  |  | (2 | ) |  |  | — |  |
Phantom Purchaser, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 9/19/2031 |  |  | 2,966 |  |  |  | 2,961 |  |  |  | 2,960 |  |  |  | 0.42 |  |
Phantom Purchaser, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 9/19/2031 |  |  | 1,465 |  |  |  | (6 | ) |  |  | (7 | ) |  |  | — |  |
Phynet Dermatology LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 6.50% |  | 10.48% |  | 10/20/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 191 |  |  |  | 0.03 |  |
Premise Health Holding Corp. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 3/3/2031 |  |  | 6,042 |  |  |  | 6,042 |  |  |  | 6,042 |  |  |  | 0.86 |  |
Premise Health Holding Corp. |  | (7)(13) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 3/1/2030 |  |  | 712 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Raven Acquisition Holdings, LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 3.00% |  | 7.13% |  | 11/19/2031 |  |  | 4,643 |  |  |  | 4,644 |  |  |  | 4,647 |  |  |  | 0.66 |  |
Raven Acquisition Holdings, LLC |  | (5)(7)(15) |  | First Lien Delayed Draw Term Loan |  | S + 3.00% |  | 7.13% |  | 11/19/2031 |  |  | 333 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
RxSense Holdings LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 3/12/2027 |  |  | 4,088 |  |  |  | 4,088 |  |  |  | 4,068 |  |  |  | 0.58 |  |
RxSense Holdings LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 3/12/2027 |  |  | 619 |  |  |  | — |  |  |  | (3 | ) |  |  | — |  |
Smile Doctors LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.90% |  | 9.85% |  | 12/23/2028 |  |  | 99 |  |  |  | 99 |  |  |  | 99 |  |  |  | 0.01 |  |
Soleo Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 1/30/2032 |  |  | 4,807 |  |  |  | 4,799 |  |  |  | 4,807 |  |  |  | 0.68 |  |
Soleo Holdings, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 1/30/2032 |  |  | 704 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
Soleo Holdings, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 1/30/2032 |  |  | 704 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
Specialized Dental Holdings II, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 11/1/2027 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Specialtycare, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 12/18/2029 |  |  | 6,170 |  |  |  | 6,135 |  |  |  | 6,139 |  |  |  | 0.87 |  |
Specialtycare, Inc. |  | (7)(15) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 12/18/2029 |  |  | 1,353 |  |  |  | (3 | ) |  |  | (7 | ) |  |  | — |  |
Specialtycare, Inc. |  | (7)(15) |  | First Lien Revolver |  | S + 3.75% |  | 7.84% |  | 12/18/2029 |  |  | 204 |  |  |  | 15 |  |  |  | 15 |  |  |  | — |  |
STCH Acquisition Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.48% |  | 10/30/2026 |  |  | 2,281 |  |  |  | 2,275 |  |  |  | 2,281 |  |  |  | 0.32 |  |
STCH Acquisition Inc. |  | (7)(12) |  | First Lien Revolver |  | S + 5.25% |  | 9.48% |  | 10/30/2026 |  |  | 196 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
TurningPoint Healthcare Solutions, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.98% |  | 7/14/2027 |  |  | 198 |  |  |  | 197 |  |  |  | 198 |  |  |  | 0.03 |  |
United Digestive MSO Parent, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 9.73% |  | 3/30/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Urology Management Holdings, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.50% |  | 9.63% |  | 6/15/2027 |  |  | 198 |  |  |  | 196 |  |  |  | 198 |  |  |  | 0.03 |  |
USHV Management, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 9/8/2032 |  |  | 3,295 |  |  |  | 3,279 |  |  |  | 3,279 |  |  |  | 0.47 |  |
USHV Management, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 9/8/2032 |  |  | 1,016 |  |  |  | (3 | ) |  |  | (5 | ) |  |  | — |  |
USHV Management, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 9/8/2031 |  |  | 549 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |
Valeris, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 9/19/2031 |  |  | 8,873 |  |  |  | 8,829 |  |  |  | 8,829 |  |  |  | 1.26 |  |
Vital Care Buyer, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 7/30/2031 |  |  | 5,289 |  |  |  | 5,268 |  |  |  | 5,266 |  |  |  | 0.75 |  |
Vital Care Buyer, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 7/30/2031 |  |  | 696 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |
WCG Intermediate Corp. |  | (5)(8)(12) |  | First Lien Term Loan |  | S + 3.00% |  | 7.13% |  | 2/25/2032 |  |  | 2,039 |  |  |  | 2,029 |  |  |  | 2,027 |  |  |  | 0.29 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 102,530 |  |  |  | 102,567 |  |  |  | 14.58 |  |

22

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Hotels, Restaurants and Leisure |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BJH Holdings III Corp. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 8/19/2027 |  | $ | 198 |  |  | $ | 197 |  |  | $ | 197 |  |  |  | 0.03 |  | %
Movati Athletic (Group) Inc. |  | (6)(8)(12) |  | First Lien Term Loan |  | C + 4.75% |  | 7.63% |  | 5/29/2030 |  |  | CAD 7,476 |  |  |  | 5,354 |  |  |  | 5,357 |  |  |  | 0.76 |  |
Movati Athletic (Group) Inc. |  | (6)(7)(12) |  | First Lien Delayed Draw Term Loan |  | C + 4.75% |  | 7.61% |  | 5/29/2030 |  |  | CAD 918 |  |  |  | (7 | ) |  |  | (2 | ) |  |  | — |  |
Southpaw Ap Buyer, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.50% |  | 9.63% |  | 3/2/2028 |  |  | 2,776 |  |  |  | 2,769 |  |  |  | 2,769 |  |  |  | 0.39 |  |
Southpaw Ap Buyer, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 9.63% |  | 3/2/2028 |  |  | 626 |  |  |  | 567 |  |  |  | 569 |  |  |  | 0.08 |  |
Southpaw Ap Buyer, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.50% |  | 9.63% |  | 3/2/2028 |  |  | 252 |  |  |  | 57 |  |  |  | 57 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,937 |  |  |  | 8,947 |  |  |  | 1.27 |  |
Household Durables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stanton Carpet Intermediate Holdings II, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 10/1/2027 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Household Products |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
TPC US Parent, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 9.88% |  | 2/23/2026 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Wu Holdco, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 4/19/2032 |  |  | 10,264 |  |  |  | 10,239 |  |  |  | 10,239 |  |  |  | 1.46 |  |
Wu Holdco, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 4/19/2032 |  |  | 2,497 |  |  |  | (3 | ) |  |  | (6 | ) |  |  | — |  |
Wu Holdco, Inc. |  | (7)(15) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 4/19/2032 |  |  | 777 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,432 |  |  |  | 10,429 |  |  |  | 1.49 |  |
Industrial Conglomerates |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FCG Acquisitions, Inc. |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.25% |  | 7.38% |  | 3/31/2028 |  |  | 2,977 |  |  |  | 2,983 |  |  |  | 2,987 |  |  |  | 0.42 |  |
Harvey Tool Company, LLC |  | (8)(13) |  | First Lien Term Loan |  | E + 5.00% |  | 6.93% |  | 8/6/2032 |  |  | EUR 617 |  |  |  | 715 |  |  |  | 722 |  |  |  | 0.10 |  |
Harvey Tool Company, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 8/6/2032 |  |  | 9,199 |  |  |  | 9,199 |  |  |  | 9,132 |  |  |  | 1.30 |  |
Harvey Tool Company, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 8/6/2032 |  |  | 3,424 |  |  |  | (7 | ) |  |  | (25 | ) |  |  | — |  |
Harvey Tool Company, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 8/6/2032 |  |  | 1,179 |  |  |  | — |  |  |  | (8 | ) |  |  | — |  |
Indicor, LLC |  | (5)(6)(8)(14) |  | First Lien Term Loan |  | S + 2.75% |  | 6.73% |  | 11/22/2029 |  |  | 2,492 |  |  |  | 2,500 |  |  |  | 2,498 |  |  |  | 0.36 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,390 |  |  |  | 15,306 |  |  |  | 2.18 |  |
Insurance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allied Benefit Systems Intermediate LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.38% |  | 10/31/2030 |  |  | 3,346 |  |  |  | 3,346 |  |  |  | 3,346 |  |  |  | 0.48 |  |
Allied Benefit Systems Intermediate LLC |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.38% |  | 10/31/2030 |  |  | 629 |  |  |  | 629 |  |  |  | 629 |  |  |  | 0.09 |  |
AMBA Buyer, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.33% |  | 7/30/2027 |  |  | 3,578 |  |  |  | 3,560 |  |  |  | 3,560 |  |  |  | 0.51 |  |
AMBA Buyer, Inc. |  | (8)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.33% |  | 7/30/2027 |  |  | 858 |  |  |  | 854 |  |  |  | 854 |  |  |  | 0.12 |  |
AMBA Buyer, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.25% |  | 9.33% |  | 7/30/2027 |  |  | 223 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Amerilife Holdings LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 8/31/2029 |  |  | 3,308 |  |  |  | 3,300 |  |  |  | 3,301 |  |  |  | 0.47 |  |
Amerilife Holdings LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 8/31/2029 |  |  | 13,318 |  |  |  | 11,139 |  |  |  | 11,145 |  |  |  | 1.58 |  |
Amerilife Holdings LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 8/31/2028 |  |  | 556 |  |  |  | 91 |  |  |  | 91 |  |  |  | 0.01 |  |

23

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Insurance (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AQ Sunshine, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 7/24/2031 |  | $ | 198 |  |  | $ | 197 |  |  | $ | 198 |  |  |  | 0.03 |  | %
Ardonagh Midco 3 Limited |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 2.75% |  | 6.60% |  | 2/15/2031 |  |  | 4,975 |  |  |  | 4,975 |  |  |  | 4,961 |  |  |  | 0.71 |  |
Asurion, LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 3.25% |  | 7.49% |  | 7/31/2027 |  |  | 3,990 |  |  |  | 3,995 |  |  |  | 3,991 |  |  |  | 0.57 |  |
Bellwether Buyer, L.L.C. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 4/15/2032 |  |  | 4,182 |  |  |  | 4,173 |  |  |  | 4,172 |  |  |  | 0.59 |  |
Bellwether Buyer, L.L.C. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 4/15/2032 |  |  | 2,178 |  |  |  | (3 | ) |  |  | (5 | ) |  |  | — |  |
Bellwether Buyer, L.L.C. |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 4/15/2032 |  |  | 871 |  |  |  | 216 |  |  |  | 216 |  |  |  | 0.03 |  |
Beyond Risk Parent Holdings, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.73% |  | 10/8/2027 |  |  | 6,369 |  |  |  | 515 |  |  |  | 526 |  |  |  | 0.07 |  |
Broadstreet Partners, Inc. |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 2.75% |  | 6.88% |  | 6/13/2031 |  |  | 2,494 |  |  |  | 2,499 |  |  |  | 2,500 |  |  |  | 0.35 |  |
Foundation Risk Partners, Corp. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 10/29/2030 |  |  | 4,294 |  |  |  | 205 |  |  |  | 215 |  |  |  | 0.03 |  |
Galway Borrower LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 9/29/2028 |  |  | 198 |  |  |  | 196 |  |  |  | 196 |  |  |  | 0.03 |  |
Imagine 360 LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 9/30/2028 |  |  | 1,389 |  |  |  | 1,384 |  |  |  | 1,389 |  |  |  | 0.20 |  |
Imagine 360 LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 9/30/2028 |  |  | 767 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
Imagine 360 LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 9/30/2028 |  |  | 327 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
Integrity Marketing Acquisition, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 8/25/2028 |  |  | 7,603 |  |  |  | 7,580 |  |  |  | 7,565 |  |  |  | 1.08 |  |
Mclarens Midco Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 12/19/2027 |  |  | 2,570 |  |  |  | 2,570 |  |  |  | 2,557 |  |  |  | 0.36 |  |
Mclarens Midco Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 12/19/2027 |  |  | 663 |  |  |  | 462 |  |  |  | 459 |  |  |  | 0.06 |  |
Mclarens Midco Inc. |  | (8)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 12/19/2027 |  |  | 898 |  |  |  | 898 |  |  |  | 894 |  |  |  | 0.13 |  |
Mclarens Midco Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.83% |  | 12/19/2027 |  |  | 287 |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |
Oakbridge Insurance Agency, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.75% |  | 9.88% |  | 11/1/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Oakbridge Insurance Agency, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 11/1/2029 |  |  | 2,583 |  |  |  | 703 |  |  |  | 712 |  |  |  | 0.10 |  |
OneDigital Borrower LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.00% |  | 7.13% |  | 7/2/2031 |  |  | 2,494 |  |  |  | 2,494 |  |  |  | 2,497 |  |  |  | 0.35 |  |
Pareto Health Intermediate Holdings, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 6/1/2030 |  |  | 2,732 |  |  |  | 2,720 |  |  |  | 2,718 |  |  |  | 0.39 |  |
Pareto Health Intermediate Holdings, Inc. |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 6/1/2030 |  |  | 653 |  |  |  | (1 | ) |  |  | (3 | ) |  |  | — |  |
Patriot Growth Insurance Services, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 10/16/2028 |  |  | 7,995 |  |  |  | 7,963 |  |  |  | 7,995 |  |  |  | 1.14 |  |
Patriot Growth Insurance Services, LLC |  | (8)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 10/16/2028 |  |  | 1,398 |  |  |  | 1,393 |  |  |  | 1,398 |  |  |  | 0.20 |  |
Patriot Growth Insurance Services, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 9.08% |  | 10/16/2028 |  |  | 534 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
Riser Interco, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 10/31/2029 |  |  | 899 |  |  |  | 899 |  |  |  | 899 |  |  |  | 0.13 |  |
Riser Interco, LLC |  | (8)(13) |  | First Lien Term Loan |  | SON + 4.75% |  | 8.72% |  | 10/31/2029 |  |  | GBP 1,512 |  |  |  | 2,000 |  |  |  | 2,033 |  |  |  | 0.29 |  |
Riser Interco, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 10/31/2029 |  |  | 1,493 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
Riser Interco, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 10/31/2029 |  |  | 600 |  |  |  | 136 |  |  |  | 136 |  |  |  | 0.02 |  |
Simplicity Financial Marketing Group Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 12/31/2031 |  |  | 6,735 |  |  |  | 6,706 |  |  |  | 6,701 |  |  |  | 0.95 |  |
Simplicity Financial Marketing Group Holdings, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 12/31/2031 |  |  | 1,803 |  |  |  | 531 |  |  |  | 526 |  |  |  | 0.07 |  |
Simplicity Financial Marketing Group Holdings, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 12/31/2031 |  |  | 903 |  |  |  | (5 | ) |  |  | (5 | ) |  |  | — |  |
THG Acquisition, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 10/31/2031 |  |  | 2,946 |  |  |  | 2,946 |  |  |  | 2,946 |  |  |  | 0.42 |  |
THG Acquisition, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 10/31/2031 |  |  | 660 |  |  |  | 107 |  |  |  | 107 |  |  |  | 0.01 |  |
THG Acquisition, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 10/31/2031 |  |  | 330 |  |  |  | 25 |  |  |  | 25 |  |  |  | — |  |
Trucordia Insurance Holdings, LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 3.25% |  | 7.38% |  | 6/17/2032 |  |  | 271 |  |  |  | 270 |  |  |  | 272 |  |  |  | 0.04 |  |
World Insurance Associates, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 4/3/2030 |  |  | 4,063 |  |  |  | 4,061 |  |  |  | 4,053 |  |  |  | 0.58 |  |
World Insurance Associates, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 4/3/2030 |  |  | 2,859 |  |  |  | 606 |  |  |  | 604 |  |  |  | 0.09 |  |
World Insurance Associates, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 4/3/2030 |  |  | 209 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 86,521 |  |  |  | 86,569 |  |  |  | 12.31 |  |

24

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
IT Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BigTime Software, Inc. |  | (13) |  | First Lien Term Loan |  | S + 6.25% |  | 10.23% |  | 6/30/2028 |  | $ | 200 |  |  | $ | 200 |  |  | $ | 198 |  |  |  | 0.03 |  | %
Cardinal Parent, Inc. |  | (5)(8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 11/12/2027 |  |  | 198 |  |  |  | 187 |  |  |  | 197 |  |  |  | 0.03 |  |
DT1 Midco Corp |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 12/30/2031 |  |  | 6,456 |  |  |  | 6,427 |  |  |  | 6,423 |  |  |  | 0.91 |  |
DT1 Midco Corp |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 12/30/2031 |  |  | 2,000 |  |  |  | 1,996 |  |  |  | 1,990 |  |  |  | 0.28 |  |
DT1 Midco Corp |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 12/30/2031 |  |  | 2,540 |  |  |  | 10 |  |  |  | 5 |  |  |  | — |  |
DT1 Midco Corp |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 9.13% |  | 12/30/2030 |  |  | 1,183 |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |
Govdelivery Holdings, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 3.50% |  | 9.73% (Incl. 2.25% PIK) |  | 1/17/2031 |  |  | 201 |  |  |  | 201 |  |  |  | 201 |  |  |  | 0.03 |  |
Marco Technologies, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.38% |  | 11/24/2026 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Medallia, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 2.50% |  | 10.45% (Incl. 4.00% PIK) |  | 10/29/2028 |  |  | 104 |  |  |  | 102 |  |  |  | 92 |  |  |  | 0.01 |  |
Noble Midco 3 Limited |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 6/10/2031 |  |  | 5,056 |  |  |  | 5,056 |  |  |  | 5,056 |  |  |  | 0.72 |  |
Noble Midco 3 Limited |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 6/10/2031 |  |  | 824 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Noble Midco 3 Limited |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 12/10/2030 |  |  | 1,120 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Oeconnection LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.38% |  | 4/22/2031 |  |  | 4,385 |  |  |  | 4,385 |  |  |  | 4,399 |  |  |  | 0.62 |  |
Oeconnection LLC |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.38% |  | 4/22/2031 |  |  | 765 |  |  |  | 757 |  |  |  | 768 |  |  |  | 0.11 |  |
Oeconnection LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.38% |  | 4/22/2031 |  |  | 2,138 |  |  |  | — |  |  |  | 7 |  |  |  | — |  |
Oeconnection LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.25% |  | 9.38% |  | 4/22/2031 |  |  | 482 |  |  |  | — |  |  |  | — |  |  |  | — |  |
PDI TA Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.50% |  | 9.48% |  | 2/3/2031 |  |  | 206 |  |  |  | 206 |  |  |  | 206 |  |  |  | 0.03 |  |
Ridge Trail US Bidco, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.35% |  | 9/30/2031 |  |  | 8,621 |  |  |  | 8,567 |  |  |  | 8,556 |  |  |  | 1.22 |  |
Ridge Trail US Bidco, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.35% |  | 9/30/2031 |  |  | 2,995 |  |  |  | (20 | ) |  |  | (22 | ) |  |  | — |  |
Ridge Trail US Bidco, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.35% |  | 3/31/2031 |  |  | 998 |  |  |  | 263 |  |  |  | 262 |  |  |  | 0.04 |  |
Safety Borrower Holdings LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 9/1/2027 |  |  | 3,466 |  |  |  | 3,466 |  |  |  | 3,451 |  |  |  | 0.49 |  |
Safety Borrower Holdings LLC |  | (7)(15) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 9/1/2027 |  |  | 499 |  |  |  | 162 |  |  |  | 160 |  |  |  | 0.02 |  |
Saturn Borrower Inc |  | (8)(12) |  | First Lien Term Loan |  | S + 6.00% |  | 9.98% |  | 11/13/2028 |  |  | 3,891 |  |  |  | 3,868 |  |  |  | 3,881 |  |  |  | 0.55 |  |
Saturn Borrower Inc |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 6.00% |  | 9.98% |  | 11/13/2028 |  |  | 1,422 |  |  |  | (4 | ) |  |  | (4 | ) |  |  | — |  |
Saturn Borrower Inc |  | (7)(12) |  | First Lien Revolver |  | S + 6.00% |  | 10.13% |  | 11/13/2028 |  |  | 640 |  |  |  | 149 |  |  |  | 152 |  |  |  | 0.02 |  |
Spirit RR Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.58% |  | 9/13/2028 |  |  | 3,227 |  |  |  | 3,221 |  |  |  | 3,211 |  |  |  | 0.46 |  |
Spirit RR Holdings, Inc. |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.58% |  | 9/13/2028 |  |  | 464 |  |  |  | 463 |  |  |  | 462 |  |  |  | 0.06 |  |
Spirit RR Holdings, Inc. |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.58% |  | 9/13/2028 |  |  | 267 |  |  |  | 267 |  |  |  | 267 |  |  |  | 0.04 |  |
Spirit RR Holdings, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.58% |  | 9/13/2028 |  |  | 272 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Storable, Inc. |  | (5)(7)(15) |  | First Lien Revolver |  | S + 2.75% |  | 6.73% |  | 4/16/2029 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Trunk Acquisition, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 6.00% |  | 10.13% |  | 2/19/2030 |  |  | 1,998 |  |  |  | 1,993 |  |  |  | 1,998 |  |  |  | 0.28 |  |
Trunk Acquisition, Inc. |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 6.00% |  | 10.13% |  | 2/19/2030 |  |  | 1,836 |  |  |  | 1,555 |  |  |  | 1,561 |  |  |  | 0.22 |  |
VS Buyer, LLC |  | (5)(7)(15) |  | First Lien Revolver |  | S + 2.25% |  | 6.23% |  | 4/12/2029 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Welocalize, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 6/23/2026 |  |  | 198 |  |  |  | 198 |  |  |  | 197 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 43,870 |  |  |  | 43,873 |  |  |  | 6.23 |  |

25

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Life Sciences Tools & Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Kwol Acquisition, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 12/12/2029 |  | $ | 6,097 |  |  | $ | 6,097 |  |  | $ | 6,067 |  |  |  | 0.86 |  | %
Kwol Acquisition, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 12/12/2029 |  |  | 1,918 |  |  |  | (5 | ) |  |  | (9 | ) |  |  | — |  |
Kwol Acquisition, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 12/12/2029 |  |  | 1,066 |  |  |  | (1 | ) |  |  | (5 | ) |  |  | — |  |
LSCS Holdings, Inc. |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 3/4/2032 |  |  | 1,493 |  |  |  | 1,485 |  |  |  | 1,473 |  |  |  | 0.21 |  |
Sotera Health Holdings, LLC |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 2.50% |  | 6.63% |  | 5/30/2031 |  |  | 1,791 |  |  |  | 1,791 |  |  |  | 1,796 |  |  |  | 0.26 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,367 |  |  |  | 9,322 |  |  |  | 1.33 |  |
Machinery |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CD&R Hydra Buyer, Inc. |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 4.00% |  | 8.23% |  | 3/25/2031 |  |  | 1,980 |  |  |  | 1,991 |  |  |  | 1,970 |  |  |  | 0.28 |  |
Clyde Industries Us Holdco, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 12/18/2026 |  |  | 165 |  |  |  | 165 |  |  |  | 165 |  |  |  | 0.02 |  |
Dynatect Group Holdings, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.58% |  | 9/30/2026 |  |  | 191 |  |  |  | 191 |  |  |  | 191 |  |  |  | 0.03 |  |
Flow Control Solutions, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 3/29/2029 |  |  | 5,238 |  |  |  | 1,224 |  |  |  | 1,255 |  |  |  | 0.18 |  |
Flow Control Solutions, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 3/29/2029 |  |  | 936 |  |  |  | 208 |  |  |  | 214 |  |  |  | 0.03 |  |
Madison IAQ LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.25% |  | 7.10% |  | 5/6/2032 |  |  | 823 |  |  |  | 815 |  |  |  | 828 |  |  |  | 0.12 |  |
Merlin Buyer, Inc. |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 12/14/2028 |  |  | 9,383 |  |  |  | 9,373 |  |  |  | 9,375 |  |  |  | 1.33 |  |
Merlin Buyer, Inc. |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.75% |  | 7.73% |  | 12/14/2026 |  |  | 1,450 |  |  |  | (12 | ) |  |  | (1 | ) |  |  | — |  |
Process Equipment, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.35% |  | 9/6/2026 |  |  | 197 |  |  |  | 197 |  |  |  | 194 |  |  |  | 0.03 |  |
Process Insights Acquisition, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 6.25% |  | 10.23% |  | 7/18/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 183 |  |  |  | 0.03 |  |
RFI Buyer, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.58% |  | 8/5/2030 |  |  | 3,468 |  |  |  | 3,451 |  |  |  | 3,451 |  |  |  | 0.49 |  |
RFI Buyer, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.58% |  | 8/5/2030 |  |  | 2,601 |  |  |  | (6 | ) |  |  | (13 | ) |  |  | — |  |
RFI Buyer, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.58% |  | 8/5/2030 |  |  | 600 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |
SPX Flow, Inc. |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 2.75% |  | 6.88% |  | 4/5/2029 |  |  | 556 |  |  |  | 556 |  |  |  | 559 |  |  |  | 0.08 |  |
Victory Buyer LLC |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.75% |  | 7.99% |  | 11/19/2028 |  |  | 100 |  |  |  | 55 |  |  |  | 56 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,403 |  |  |  | 18,424 |  |  |  | 2.63 |  |
Media |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Klick, Inc. |  | (6)(8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 3/31/2028 |  |  | 727 |  |  |  | 721 |  |  |  | 727 |  |  |  | 0.10 |  |
MH Sub I, LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 4.25% |  | 8.38% |  | 12/31/2031 |  |  | 2,481 |  |  |  | 2,459 |  |  |  | 2,289 |  |  |  | 0.33 |  |
Planet US Buyer LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 3.00% |  | 6.98% |  | 2/7/2031 |  |  | 2,382 |  |  |  | 2,387 |  |  |  | 2,398 |  |  |  | 0.34 |  |
Red Ventures, LLC (New Imagitas, Inc.) |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 2.75% |  | 6.88% |  | 3/4/2030 |  |  | 1,713 |  |  |  | 1,711 |  |  |  | 1,618 |  |  |  | 0.23 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,278 |  |  |  | 7,032 |  |  |  | 1.00 |  |
Oil, Gas and Consumable Fuels |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CPPIB OVM Member U.S. LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 2.50% |  | 6.48% |  | 8/20/2031 |  |  | 3,109 |  |  |  | 3,109 |  |  |  | 3,119 |  |  |  | 0.44 |  |
Valicor PPC Intermediate II LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 7/24/2028 |  |  | 5,117 |  |  |  | 5,109 |  |  |  | 5,077 |  |  |  | 0.72 |  |
Valicor PPC Intermediate II LLC |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 7/24/2028 |  |  | 438 |  |  |  | 437 |  |  |  | 434 |  |  |  | 0.06 |  |
Valicor PPC Intermediate II LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.00% |  | 9.13% |  | 1/24/2028 |  |  | 710 |  |  |  | 84 |  |  |  | 80 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,739 |  |  |  | 8,710 |  |  |  | 1.23 |  |
Personal Care Products |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Apothecary Products, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.85% |  | 7/27/2026 |  |  | 189 |  |  |  | 189 |  |  |  | 187 |  |  |  | 0.03 |  |
Swanson Health Products, Incorporated |  | (8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 9.99% |  | 6/30/2027 |  |  | 183 |  |  |  | 183 |  |  |  | 181 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 372 |  |  |  | 368 |  |  |  | 0.06 |  |

26

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Pharmaceuticals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amneal Pharmaceuticals LLC |  | (5)(6)(8)(14) |  | First Lien Term Loan |  | S + 3.50% |  | 7.63% |  | 8/1/2032 |  | $ | 1,509 |  |  | $ | 1,510 |  |  | $ | 1,511 |  |  |  | 0.21 |  | %
Bamboo US BidCo LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 9/30/2030 |  |  | 3,001 |  |  |  | 3,001 |  |  |  | 2,971 |  |  |  | 0.42 |  |
Bamboo US BidCo LLC |  | (8)(12) |  | First Lien Term Loan |  | E + 5.25% |  | 7.28% |  | 9/30/2030 |  |  | EUR 2,700 |  |  |  | 2,952 |  |  |  | 3,137 |  |  |  | 0.45 |  |
Bamboo US BidCo LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 9/30/2030 |  |  | 714 |  |  |  | (2 | ) |  |  | (7 | ) |  |  | — |  |
Bamboo US BidCo LLC |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 9/30/2030 |  |  | 463 |  |  |  | 463 |  |  |  | 459 |  |  |  | 0.07 |  |
Bamboo US BidCo LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.25% |  | 9.38% |  | 9/30/2030 |  |  | 714 |  |  |  | 653 |  |  |  | 651 |  |  |  | 0.09 |  |
Bamboo US BidCo LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 10/1/2029 |  |  | 826 |  |  |  | — |  |  |  | (8 | ) |  |  | — |  |
Bridges Consumer Healthcare Intermediate LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 12/22/2031 |  |  | 4,673 |  |  |  | 4,652 |  |  |  | 4,673 |  |  |  | 0.66 |  |
Bridges Consumer Healthcare Intermediate LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.10% |  | 12/22/2031 |  |  | 2,226 |  |  |  | 1,774 |  |  |  | 1,779 |  |  |  | 0.25 |  |
Bridges Consumer Healthcare Intermediate LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 12/22/2031 |  |  | 2,000 |  |  |  | (5 | ) |  |  | — |  |  |  | — |  |
Bridges Consumer Healthcare Intermediate LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 12/22/2031 |  |  | 894 |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |
Exactcare Parent, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.50% |  | 9.48% |  | 11/5/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Puma Buyer, LLC |  | (8)(14) |  | First Lien Term Loan |  | S + 4.25% |  | 8.23% |  | 3/29/2032 |  |  | 8,119 |  |  |  | 8,089 |  |  |  | 8,119 |  |  |  | 1.15 |  |
Puma Buyer, LLC |  | (7)(14) |  | First Lien Revolver |  | S + 4.25% |  | 8.23% |  | 3/29/2032 |  |  | 1,313 |  |  |  | (5 | ) |  |  | — |  |  |  | — |  |
Tersera Therapeutics, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 4/4/2029 |  |  | 2,486 |  |  |  | 2,476 |  |  |  | 2,486 |  |  |  | 0.35 |  |
Tersera Therapeutics, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 9.73% |  | 4/4/2029 |  |  | 3,845 |  |  |  | 3,845 |  |  |  | 3,845 |  |  |  | 0.55 |  |
Tersera Therapeutics, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 5.75% |  | 9.73% |  | 4/4/2029 |  |  | 116 |  |  |  | — |  |  |  | — |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 29,597 |  |  |  | 29,814 |  |  |  | 4.23 |  |
Professional Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ABC Legal Holdings, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 8/13/2032 |  |  | 1,312 |  |  |  | 1,305 |  |  |  | 1,305 |  |  |  | 0.19 |  |
ABC Legal Holdings, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 8/13/2032 |  |  | 393 |  |  |  | (1 | ) |  |  | (2 | ) |  |  | — |  |
ABC Legal Holdings, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 8/13/2032 |  |  | 255 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Access CIG, LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 4.00% |  | 8.13% |  | 8/19/2030 |  |  | 1,247 |  |  |  | 1,247 |  |  |  | 1,252 |  |  |  | 0.18 |  |
Analytic Partners, LP |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 4/4/2030 |  |  | 3,883 |  |  |  | 3,877 |  |  |  | 3,883 |  |  |  | 0.55 |  |
Analytic Partners, LP |  | (7)(15) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 4/4/2030 |  |  | 502 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
Applied Technical Services, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 4/8/2031 |  |  | 6,376 |  |  |  | 6,348 |  |  |  | 6,376 |  |  |  | 0.91 |  |
Applied Technical Services, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 4/8/2031 |  |  | 645 |  |  |  | 174 |  |  |  | 180 |  |  |  | 0.03 |  |
Applied Technical Services, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 4/8/2031 |  |  | 645 |  |  |  | 97 |  |  |  | 103 |  |  |  | 0.01 |  |
AQ Carver Buyer, Inc. |  | (5)(7)(15) |  | First Lien Revolver |  | S + 5.25% |  | 9.33% |  | 8/2/2028 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Carr, Riggs & Ingram Capital, L.L.C. |  | (8)(14) |  | First Lien Term Loan |  | S + 4.25% |  | 8.23% |  | 11/18/2031 |  |  | 2,861 |  |  |  | 2,849 |  |  |  | 2,861 |  |  |  | 0.41 |  |
Carr, Riggs & Ingram Capital, L.L.C. |  | (7)(14) |  | First Lien Delayed Draw Term Loan |  | S + 4.25% |  | 8.23% |  | 11/18/2031 |  |  | 1,457 |  |  |  | 304 |  |  |  | 308 |  |  |  | 0.04 |  |
Carr, Riggs & Ingram Capital, L.L.C. |  | (7)(14) |  | First Lien Revolver |  | S + 4.25% |  | 8.23% |  | 11/18/2031 |  |  | 667 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
Clinical Education Alliance, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 12/21/2026 |  |  | 99 |  |  |  | 98 |  |  |  | 99 |  |  |  | 0.01 |  |
Crisis Prevention Institute, Inc. |  | (5)(7)(14) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 4/9/2029 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Disa Holdings Corp. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 9/9/2028 |  |  | 2,832 |  |  |  | 2,832 |  |  |  | 2,802 |  |  |  | 0.40 |  |
Disa Holdings Corp. |  | (8)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 9/9/2028 |  |  | 551 |  |  |  | 551 |  |  |  | 546 |  |  |  | 0.08 |  |
Disa Holdings Corp. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 9/9/2028 |  |  | 588 |  |  |  | 571 |  |  |  | 565 |  |  |  | 0.08 |  |
Foreigner Bidco Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.50% |  | 9.73% |  | 4/19/2028 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Grant Thornton Advisors LLC |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 2.50% |  | 6.63% |  | 6/2/2031 |  |  | 3,328 |  |  |  | 3,330 |  |  |  | 3,312 |  |  |  | 0.47 |  |

27

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Professional Services (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HSI Halo Acquisition, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 6/30/2031 |  | $ | 7,767 |  |  | $ | 7,751 |  |  | $ | 7,767 |  |  |  | 1.10 |  | %
HSI Halo Acquisition, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 6/30/2031 |  |  | 1,396 |  |  |  | 694 |  |  |  | 697 |  |  |  | 0.10 |  |
HSI Halo Acquisition, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 9.13% |  | 6/28/2030 |  |  | 932 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
IG Investments Holdings, LLC |  | (13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 9/22/2028 |  |  | 2,589 |  |  |  | 2,589 |  |  |  | 2,589 |  |  |  | 0.37 |  |
IG Investments Holdings, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 9/22/2028 |  |  | 293 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Iris Buyer LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 10/2/2030 |  |  | 198 |  |  |  | 195 |  |  |  | 198 |  |  |  | 0.03 |  |
KENE Acquisition, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 2/7/2031 |  |  | 198 |  |  |  | 198 |  |  |  | 196 |  |  |  | 0.03 |  |
Keng Acquisition, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 8/1/2029 |  |  | 198 |  |  |  | 196 |  |  |  | 197 |  |  |  | 0.03 |  |
Marina Acquisition, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 7/1/2030 |  |  | 2,130 |  |  |  | 2,112 |  |  |  | 2,082 |  |  |  | 0.30 |  |
Marina Acquisition, Inc. |  | (7)(12) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 7/1/2030 |  |  | 307 |  |  |  | 77 |  |  |  | 73 |  |  |  | 0.01 |  |
MHE Intermediate Holdings, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 6.00% |  | 10.13% |  | 7/21/2027 |  |  | 200 |  |  |  | 200 |  |  |  | 199 |  |  |  | 0.03 |  |
Monarch Buyer, Inc. |  | (8)(14) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 6/2/2032 |  |  | 4,922 |  |  |  | 4,898 |  |  |  | 4,898 |  |  |  | 0.70 |  |
Monarch Buyer, Inc. |  | (7)(14) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 6/2/2032 |  |  | 2,051 |  |  |  | (5 | ) |  |  | (10 | ) |  |  | — |  |
Monarch Buyer, Inc. |  | (7)(14) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 6/2/2032 |  |  | 923 |  |  |  | (4 | ) |  |  | (5 | ) |  |  | — |  |
OMNIA Partners, LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 2.50% |  | 6.48% |  | 7/25/2030 |  |  | 4,135 |  |  |  | 4,148 |  |  |  | 4,142 |  |  |  | 0.59 |  |
Propio LS, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 5/10/2030 |  |  | 7,282 |  |  |  | 7,246 |  |  |  | 7,227 |  |  |  | 1.03 |  |
Propio LS, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 5/10/2030 |  |  | 200 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Rimkus Consulting Group, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 4/1/2031 |  |  | 8,894 |  |  |  | 8,894 |  |  |  | 8,627 |  |  |  | 1.23 |  |
Rimkus Consulting Group, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 4/1/2031 |  |  | 2,248 |  |  |  | 476 |  |  |  | 409 |  |  |  | 0.06 |  |
Rimkus Consulting Group, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 4/1/2030 |  |  | 1,201 |  |  |  | 300 |  |  |  | 264 |  |  |  | 0.04 |  |
Ruppert Landscape, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 12/3/2029 |  |  | 4,598 |  |  |  | 4,590 |  |  |  | 4,577 |  |  |  | 0.65 |  |
Ruppert Landscape, LLC |  | (8)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 12/3/2029 |  |  | 605 |  |  |  | 605 |  |  |  | 603 |  |  |  | 0.08 |  |
Ruppert Landscape, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 12/3/2029 |  |  | 6,414 |  |  |  | 2,307 |  |  |  | 2,331 |  |  |  | 0.33 |  |
Ruppert Landscape, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 12/3/2029 |  |  | 865 |  |  |  | 235 |  |  |  | 234 |  |  |  | 0.03 |  |
Sedgwick Claims Management Services, Inc. (Lightning Cayman Merger Sub, Ltd.) |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 2.50% |  | 6.63% |  | 7/31/2031 |  |  | 2,977 |  |  |  | 2,984 |  |  |  | 2,977 |  |  |  | 0.42 |  |
Skopima Consilio Parent LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.75% |  | 7.88% |  | 5/12/2028 |  |  | 4,141 |  |  |  | 4,145 |  |  |  | 3,529 |  |  |  | 0.50 |  |
TRC Companies LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 3.00% |  | 7.13% |  | 12/8/2028 |  |  | 2,982 |  |  |  | 2,984 |  |  |  | 2,990 |  |  |  | 0.42 |  |
USRP Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 12/31/2029 |  |  | 8,610 |  |  |  | 8,577 |  |  |  | 8,610 |  |  |  | 1.22 |  |
USRP Holdings, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 12/31/2029 |  |  | 2,769 |  |  |  | 1,215 |  |  |  | 1,226 |  |  |  | 0.17 |  |
USRP Holdings, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 9.13% |  | 12/31/2029 |  |  | 900 |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |
Vaco Holdings, LLC |  | (5)(7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 1/21/2027 |  |  | 100 |  |  |  | — |  |  |  | (14 | ) |  |  | — |  |
Vensure Employer Services, Inc. |  | (8)(14) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 9/27/2031 |  |  | 2,320 |  |  |  | 2,311 |  |  |  | 2,309 |  |  |  | 0.33 |  |
Vensure Employer Services, Inc. |  | (7)(14) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 9/27/2031 |  |  | 164 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
VT Topco, Inc. |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.00% |  | 7.13% |  | 8/9/2030 |  |  | 995 |  |  |  | 993 |  |  |  | 966 |  |  |  | 0.14 |  |
YA Intermediate Holdings II, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.60% |  | 10/1/2031 |  |  | 5,378 |  |  |  | 5,355 |  |  |  | 5,378 |  |  |  | 0.76 |  |
YA Intermediate Holdings II, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.60% |  | 10/1/2031 |  |  | 2,256 |  |  |  | 234 |  |  |  | 238 |  |  |  | 0.03 |  |
YA Intermediate Holdings II, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.60% |  | 10/1/2031 |  |  | 1,084 |  |  |  | 95 |  |  |  | 99 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 100,363 |  |  |  | 99,390 |  |  |  | 14.13 |  |

28

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Real Estate Management and Development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sako and Partners Lower Holdings LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 9/15/2028 |  | $ | 10,151 |  |  | $ | 10,122 |  |  | $ | 10,103 |  |  |  | 1.44 |  | %
Sako and Partners Lower Holdings LLC |  | (7)(12) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 9/15/2028 |  |  | 1,091 |  |  |  | (4 | ) |  |  | (5 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,118 |  |  |  | 10,098 |  |  |  | 1.44 |  |
Software |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
365 Retail Markets, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 12/23/2028 |  |  | 3,846 |  |  |  | 3,846 |  |  |  | 3,846 |  |  |  | 0.55 |  |
365 Retail Markets, LLC |  | (8)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.48% |  | 12/23/2028 |  |  | 1,739 |  |  |  | 1,739 |  |  |  | 1,739 |  |  |  | 0.25 |  |
365 Retail Markets, LLC |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.48% |  | 12/23/2028 |  |  | 906 |  |  |  | 906 |  |  |  | 906 |  |  |  | 0.13 |  |
Adelaide Borrower, LLC |  | (13) |  | First Lien Term Loan |  | S + 3.38% |  | 10.73% (Incl. 3.38% PIK) |  | 5/8/2030 |  |  | 202 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Ahead DB Holdings, LLC |  | (5)(8)(13) |  | First Lien Term Loan |  | S + 2.75% |  | 6.73% |  | 2/1/2031 |  |  | 998 |  |  |  | 1,000 |  |  |  | 1,000 |  |  |  | 0.14 |  |
Alta Buyer, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 12/21/2027 |  |  | 198 |  |  |  | 197 |  |  |  | 198 |  |  |  | 0.03 |  |
AQA Acquisition Holding, Inc. |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.25% |  | 7.23% |  | 3/3/2028 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Artifact Bidco, Inc. |  | (8)(14) |  | First Lien Term Loan |  | S + 4.25% |  | 8.23% |  | 7/28/2031 |  |  | 3,354 |  |  |  | 3,333 |  |  |  | 3,354 |  |  |  | 0.48 |  |
Artifact Bidco, Inc. |  | (7)(14) |  | First Lien Delayed Draw Term Loan |  | S + 4.25% |  | 8.23% |  | 7/28/2031 |  |  | 821 |  |  |  | (5 | ) |  |  | — |  |  |  | — |  |
Artifact Bidco, Inc. |  | (7)(14) |  | First Lien Revolver |  | S + 4.25% |  | 8.23% |  | 7/26/2030 |  |  | 587 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
Banker's Toolbox, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 7/27/2027 |  |  | 198 |  |  |  | 197 |  |  |  | 197 |  |  |  | 0.03 |  |
Bluecat Networks (USA) Inc. |  | (6)(8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 9.98% (Incl. 1.00% PIK) |  | 8/8/2028 |  |  | 1,477 |  |  |  | 1,468 |  |  |  | 1,477 |  |  |  | 0.21 |  |
Boxer Parent Company Inc. |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 3.00% |  | 6.98% |  | 7/30/2031 |  |  | 4,975 |  |  |  | 4,980 |  |  |  | 4,973 |  |  |  | 0.71 |  |
Camelot U.S. Acquisition LLC |  | (5)(6)(8)(15) |  | First Lien Term Loan |  | S + 2.75% |  | 6.88% |  | 1/31/2031 |  |  | 4,260 |  |  |  | 4,269 |  |  |  | 4,239 |  |  |  | 0.60 |  |
Catalis Intermediate, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.50% |  | 9.63% |  | 8/4/2027 |  |  | 99 |  |  |  | 98 |  |  |  | 99 |  |  |  | 0.01 |  |
Central Parent LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 3.25% |  | 7.23% |  | 7/6/2029 |  |  | 3,453 |  |  |  | 3,434 |  |  |  | 2,996 |  |  |  | 0.42 |  |
Cloud Software Group, Inc. |  | (5)(6)(7)(15) |  | First Lien Revolver |  | S + 3.25% |  | 7.23% |  | 9/28/2029 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Concord Global Acquisition, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 12/29/2031 |  |  | 3,946 |  |  |  | 3,928 |  |  |  | 3,946 |  |  |  | 0.56 |  |
Concord Global Acquisition, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.48% |  | 12/29/2031 |  |  | 1,715 |  |  |  | 408 |  |  |  | 412 |  |  |  | 0.06 |  |
Concord Global Acquisition, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 12/29/2031 |  |  | 686 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
Digital.AI Software Holdings, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 6.00% |  | 9.98% |  | 8/10/2028 |  |  | 99 |  |  |  | 99 |  |  |  | 99 |  |  |  | 0.01 |  |
DS Admiral Bidco, LLC |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.75% |  | 7.73% |  | 6/26/2029 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
DT Intermediate Holdco, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 2.75% |  | 9.98% (Incl. 3.25% PIK) |  | 2/24/2028 |  |  | 3,381 |  |  |  | 3,369 |  |  |  | 3,381 |  |  |  | 0.48 |  |
DT Intermediate Holdco, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 9.48% |  | 2/24/2028 |  |  | 1,658 |  |  |  | (6 | ) |  |  | — |  |  |  | — |  |
e-Discovery AcquireCo, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 6.00% |  | 9.98% |  | 8/29/2029 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Eagan Parent, Inc. |  | (8)(14) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 9/8/2032 |  |  | 5,765 |  |  |  | 5,751 |  |  |  | 5,751 |  |  |  | 0.82 |  |
Eagan Parent, Inc. |  | (7)(14) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.48% |  | 9/8/2032 |  |  | 1,441 |  |  |  | (2 | ) |  |  | (4 | ) |  |  | — |  |
Eagan Parent, Inc. |  | (7)(14) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 9/8/2032 |  |  | 769 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
Eclipse Buyer, Inc. |  | (8)(14) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 9/8/2031 |  |  | 7,862 |  |  |  | 7,830 |  |  |  | 7,862 |  |  |  | 1.12 |  |
Eclipse Buyer, Inc. |  | (7)(14) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 9/8/2031 |  |  | 1,333 |  |  |  | (6 | ) |  |  | — |  |  |  | — |  |
Eclipse Buyer, Inc. |  | (7)(14) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 9/8/2031 |  |  | 676 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
Emburse, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.25% |  | 8.23% |  | 5/28/2032 |  |  | 7,368 |  |  |  | 7,350 |  |  |  | 7,351 |  |  |  | 1.04 |  |
Emburse, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.25% |  | 8.23% |  | 5/28/2032 |  |  | 1,316 |  |  |  | (2 | ) |  |  | (3 | ) |  |  | — |  |
Emburse, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.25% |  | 8.23% |  | 5/28/2032 |  |  | 1,316 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |

29

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Software (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Empyrean Solutions, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 11/26/2031 |  | $ | 1,382 |  |  | $ | 1,377 |  |  | $ | 1,382 |  |  |  | 0.20 |  | %
Empyrean Solutions, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.48% |  | 11/26/2031 |  |  | 553 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
Empyrean Solutions, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 11/26/2031 |  |  | 207 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
Enverus Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.50% |  | 9.63% |  | 12/24/2029 |  |  | 2,069 |  |  |  | 2,069 |  |  |  | 2,069 |  |  |  | 0.29 |  |
Enverus Holdings, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 9.63% |  | 12/24/2029 |  |  | 38 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Enverus Holdings, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.50% |  | 9.63% |  | 12/24/2029 |  |  | 214 |  |  |  | 9 |  |  |  | 9 |  |  |  | — |  |
ESG Investments, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 3/11/2028 |  |  | 2,094 |  |  |  | 2,095 |  |  |  | 2,094 |  |  |  | 0.30 |  |
Fourth Enterprises, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 3/21/2031 |  |  | 10,719 |  |  |  | 10,669 |  |  |  | 10,665 |  |  |  | 1.52 |  |
Fourth Enterprises, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 3/21/2031 |  |  | 2,079 |  |  |  | (10 | ) |  |  | (10 | ) |  |  | — |  |
Fourth Enterprises, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 3/21/2031 |  |  | 959 |  |  |  | 168 |  |  |  | 168 |  |  |  | 0.02 |  |
Genesys Cloud Services Holdings I, LLC |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 2.50% |  | 6.63% |  | 1/30/2032 |  |  | 1,630 |  |  |  | 1,627 |  |  |  | 1,622 |  |  |  | 0.23 |  |
GS Acquisitionco, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 5/25/2028 |  |  | 199 |  |  |  | 74 |  |  |  | 74 |  |  |  | 0.01 |  |
Higher Logic, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 1/10/2029 |  |  | 4,533 |  |  |  | 4,515 |  |  |  | 4,533 |  |  |  | 0.64 |  |
Higher Logic, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 1/10/2029 |  |  | 380 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
Hyphen Solutions, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 8/6/2032 |  |  | 2,707 |  |  |  | 2,701 |  |  |  | 2,701 |  |  |  | 0.38 |  |
Hyphen Solutions, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 8/6/2032 |  |  | 501 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Hyphen Solutions, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 8/6/2032 |  |  | 301 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Inhabitiq Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 1/12/2032 |  |  | 2,504 |  |  |  | 2,500 |  |  |  | 2,504 |  |  |  | 0.36 |  |
Inhabitiq Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.63% |  | 1/12/2032 |  |  | 697 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
Inhabitiq Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.50% |  | 8.63% |  | 1/12/2032 |  |  | 436 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
Innovative Systems L.L.C. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 8/20/2032 |  |  | 3,391 |  |  |  | 3,375 |  |  |  | 3,375 |  |  |  | 0.48 |  |
Innovative Systems L.L.C. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 8/20/2032 |  |  | 1,453 |  |  |  | (4 | ) |  |  | (7 | ) |  |  | — |  |
Innovative Systems L.L.C. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 8/20/2032 |  |  | 484 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
Kaseya Inc. |  | (5)(7)(15) |  | First Lien Revolver |  | S + 3.25% |  | 7.23% |  | 3/20/2030 |  |  | 761 |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |
Kipu Buyer, LLC |  | (8)(15) |  | First Lien Term Loan |  | S + 4.25% |  | 8.23% |  | 1/27/2027 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
KPA Parent Holdings, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 3/12/2032 |  |  | 7,112 |  |  |  | 7,078 |  |  |  | 7,112 |  |  |  | 1.01 |  |
KPA Parent Holdings, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.88% |  | 3/12/2032 |  |  | 1,016 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
KPA Parent Holdings, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 3/12/2032 |  |  | 711 |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |
Litera Bidco LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 5/1/2028 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Mastery Acquisition Corp. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 9/7/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 196 |  |  |  | 0.03 |  |
McAfee Corp. |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.00% |  | 7.13% |  | 3/1/2029 |  |  | 3,722 |  |  |  | 3,727 |  |  |  | 3,566 |  |  |  | 0.51 |  |
Monotype Imaging Holdings Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.50% |  | 9.63% |  | 2/28/2031 |  |  | 1,220 |  |  |  | 1,223 |  |  |  | 1,214 |  |  |  | 0.17 |  |
Monotype Imaging Holdings Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 9.63% |  | 2/28/2031 |  |  | 103 |  |  |  | 27 |  |  |  | 26 |  |  |  | — |  |
Monotype Imaging Holdings Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.50% |  | 9.63% |  | 2/28/2030 |  |  | 154 |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |
Montana Buyer Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 7/22/2029 |  |  | 2,643 |  |  |  | 2,639 |  |  |  | 2,643 |  |  |  | 0.38 |  |
Montana Buyer Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.88% |  | 7/22/2028 |  |  | 307 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
MRI Software LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 2/10/2027 |  |  | 6,929 |  |  |  | 6,909 |  |  |  | 6,916 |  |  |  | 0.98 |  |
MRI Software LLC |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 2/10/2027 |  |  | 1,289 |  |  |  | 1,280 |  |  |  | 1,287 |  |  |  | 0.18 |  |
MRI Software LLC |  | (7)(12) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 2/10/2027 |  |  | 265 |  |  |  | 26 |  |  |  | 26 |  |  |  | — |  |

30

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Software (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nasuni Corporation |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.85% |  | 9/10/2030 |  | $ | 6,250 |  |  | $ | 6,208 |  |  | $ | 6,209 |  |  |  | 0.88 |  | %
Nasuni Corporation |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.85% |  | 9/10/2030 |  |  | 1,302 |  |  |  | (8 | ) |  |  | (9 | ) |  |  | — |  |
Navex Topco, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.38% |  | 11/8/2030 |  |  | 5,151 |  |  |  | 5,151 |  |  |  | 5,151 |  |  |  | 0.73 |  |
Navex Topco, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.25% |  | 9.38% |  | 11/9/2028 |  |  | 1,797 |  |  |  | — |  |  |  | — |  |  |  | — |  |
North Star Acquisitionco, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 5/3/2029 |  |  | 4,374 |  |  |  | 4,366 |  |  |  | 4,374 |  |  |  | 0.62 |  |
North Star Acquisitionco, LLC |  | (8)(12) |  | First Lien Term Loan |  | C + 4.50% |  | 7.06% |  | 5/3/2029 |  |  | CAD 1,544 |  |  |  | 1,115 |  |  |  | 1,109 |  |  |  | 0.16 |  |
North Star Acquisitionco, LLC |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 8.48% |  | 5/3/2029 |  |  | 275 |  |  |  | 263 |  |  |  | 264 |  |  |  | 0.04 |  |
North Star Acquisitionco, LLC |  | (7)(12) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 5/3/2029 |  |  | 780 |  |  |  | 293 |  |  |  | 294 |  |  |  | 0.04 |  |
OLO Parent, Inc. |  | (8)(14) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 9/13/2032 |  |  | 8,388 |  |  |  | 8,367 |  |  |  | 8,367 |  |  |  | 1.19 |  |
OLO Parent, Inc. |  | (7)(14) |  | First Lien Revolver |  | S + 4.50% |  | 8.48% |  | 9/13/2032 |  |  | 799 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
Onit, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.50% |  | 8.48% |  | 1/27/2032 |  |  | 2,007 |  |  |  | 2,002 |  |  |  | 2,002 |  |  |  | 0.28 |  |
Onit, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 1/27/2032 |  |  | 6,316 |  |  |  | 6,289 |  |  |  | 6,316 |  |  |  | 0.90 |  |
Onit, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 1/27/2032 |  |  | 2,786 |  |  |  | (6 | ) |  |  | — |  |  |  | — |  |
Onit, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 1/27/2032 |  |  | 929 |  |  |  | (5 | ) |  |  | — |  |  |  | — |  |
Pegasus Transtech Holding, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 6.00% |  | 10.13% |  | 11/17/2026 |  |  | 197 |  |  |  | 197 |  |  |  | 197 |  |  |  | 0.03 |  |
Perforce Software, Inc. |  | (8)(14) |  | First Lien Term Loan |  | S + 4.75% |  | 8.88% |  | 3/21/2031 |  |  | 2,020 |  |  |  | 2,022 |  |  |  | 1,806 |  |  |  | 0.26 |  |
Prism Parent Co. Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 9/19/2028 |  |  | 5,523 |  |  |  | 5,435 |  |  |  | 5,468 |  |  |  | 0.78 |  |
Prism Parent Co. Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 9/19/2028 |  |  | 1,416 |  |  |  | 545 |  |  |  | 552 |  |  |  | 0.08 |  |
Proofpoint, Inc. |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 3.00% |  | 7.13% |  | 8/31/2028 |  |  | 992 |  |  |  | 992 |  |  |  | 998 |  |  |  | 0.14 |  |
Renaissance Holding Corp |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 4.00% |  | 8.13% |  | 4/5/2030 |  |  | 1,980 |  |  |  | 1,981 |  |  |  | 1,721 |  |  |  | 0.24 |  |
Routeware, Inc. |  | (12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 9/18/2031 |  |  | 3,182 |  |  |  | 3,168 |  |  |  | 3,182 |  |  |  | 0.45 |  |
Routeware, Inc. |  | (7)(12) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 9.23% |  | 9/18/2031 |  |  | 1,477 |  |  |  | 84 |  |  |  | 91 |  |  |  | 0.01 |  |
Routeware, Inc. |  | (7)(12) |  | First Lien Revolver |  | S + 5.25% |  | 9.38% |  | 9/18/2031 |  |  | 341 |  |  |  | 67 |  |  |  | 68 |  |  |  | 0.01 |  |
Spartan Bidco PTY LTD |  | (6)(13) |  | First Lien Term Loan |  | S + 6.50% |  | 10.63% |  | 1/24/2028 |  |  | 4,843 |  |  |  | 4,823 |  |  |  | 4,818 |  |  |  | 0.69 |  |
Spartan Bidco PTY LTD |  | (6)(7)(13) |  | First Lien Revolver |  | S + 6.50% |  | 10.58% |  | 1/24/2028 |  |  | 385 |  |  |  | (4 | ) |  |  | (2 | ) |  |  | — |  |
Thunder Purchaser, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.38% |  | 6/30/2028 |  |  | 199 |  |  |  | 199 |  |  |  | 198 |  |  |  | 0.03 |  |
Trimech Acquisition Corp. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 3/10/2028 |  |  | 4,065 |  |  |  | 4,045 |  |  |  | 4,045 |  |  |  | 0.58 |  |
Trimech Acquisition Corp. |  | (12) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 3/10/2028 |  |  | 2,468 |  |  |  | 2,444 |  |  |  | 2,455 |  |  |  | 0.35 |  |
Trimech Acquisition Corp. |  | (7)(12) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 3/10/2028 |  |  | 1,550 |  |  |  | 82 |  |  |  | 85 |  |  |  | 0.01 |  |
Ungerboeck Systems International, LLC |  | (12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 4/30/2027 |  |  | 198 |  |  |  | 198 |  |  |  | 196 |  |  |  | 0.03 |  |
Validity, Inc. |  | (8)(14) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 4/12/2032 |  |  | 1,832 |  |  |  | 1,797 |  |  |  | 1,800 |  |  |  | 0.26 |  |
Validity, Inc. |  | (7)(15) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 4/10/2030 |  |  | 392 |  |  |  | — |  |  |  | (7 | ) |  |  | — |  |
Vamos Bidco, Inc |  | (8)(14) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 1/30/2032 |  |  | 2,646 |  |  |  | 2,634 |  |  |  | 2,646 |  |  |  | 0.38 |  |
Vamos Bidco, Inc |  | (7)(14) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 1/30/2032 |  |  | 1,105 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
Vamos Bidco, Inc |  | (7)(14) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 1/30/2032 |  |  | 332 |  |  |  | 109 |  |  |  | 111 |  |  |  | 0.02 |  |
WatchGuard Technologies, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.25% |  | 9.38% |  | 7/2/2029 |  |  | 198 |  |  |  | 197 |  |  |  | 198 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 174,260 |  |  |  | 173,471 |  |  |  | 24.68 |  |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Specialty Retail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mavis Tire Express Services Topco, Corp. |  | (5)(8)(13) |  | First Lien Term Loan |  | S + 3.00% |  | 6.98% |  | 5/4/2028 |  | $ | 872 |  |  | $ | 866 |  |  | $ | 872 |  |  |  | 0.12 |  | %
SCW Holdings III Corp. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 3/17/2032 |  |  | 5,190 |  |  |  | 5,174 |  |  |  | 5,190 |  |  |  | 0.74 |  |
SCW Holdings III Corp. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 3/17/2032 |  |  | 977 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
SCW Holdings III Corp. |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 3/17/2031 |  |  | 872 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
Shock Doctor Intermediate, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.75% |  | 9.73% |  | 11/20/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,233 |  |  |  | 6,260 |  |  |  | 0.89 |  |
Technology Hardware, Storage and Peripherals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
TA TT Buyer, LLC |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 4/2/2029 |  |  | 198 |  |  |  | 198 |  |  |  | 196 |  |  |  | 0.03 |  |
Ubeo, LLC |  | (8)(12) |  | First Lien Term Loan |  | S + 5.25% |  | 9.23% |  | 7/3/2028 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Victors Purchaser, LLC |  | (8)(14) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 8/15/2031 |  |  | 9,148 |  |  |  | 9,131 |  |  |  | 9,148 |  |  |  | 1.30 |  |
Victors Purchaser, LLC |  | (7)(14) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 8/15/2031 |  |  | 2,191 |  |  |  | 466 |  |  |  | 473 |  |  |  | 0.07 |  |
Victors Purchaser, LLC |  | (7)(14) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 8/15/2031 |  |  | 1,254 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,990 |  |  |  | 10,015 |  |  |  | 1.43 |  |
Textiles, Apparel and Luxury Goods |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gloves Buyer, Inc. |  | (5)(8)(14) |  | First Lien Term Loan |  | S + 4.00% |  | 8.13% |  | 5/21/2032 |  |  | 4,000 |  |  |  | 3,981 |  |  |  | 3,895 |  |  |  | 0.55 |  |
Gloves Buyer, Inc. |  | (7)(14) |  | First Lien Revolver |  | S + 4.00% |  | 8.13% |  | 5/22/2030 |  |  | 420 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Team Acquisition Corporation |  | (7)(12) |  | First Lien Revolver |  | S + 7.00% |  | 10.98% |  | 11/21/2028 |  |  | 100 |  |  |  | 11 |  |  |  | 9 |  |  |  | — |  |
Varsity Brands, Inc. |  | (5)(8)(15) |  | First Lien Term Loan |  | S + 3.00% |  | 6.98% |  | 8/26/2031 |  |  | 4,990 |  |  |  | 5,007 |  |  |  | 4,997 |  |  |  | 0.71 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,999 |  |  |  | 8,901 |  |  |  | 1.26 |  |
Trading Companies and Distributors |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Painters Supply and Equipment Co. |  | (8)(12) |  | First Lien Term Loan |  | S + 5.50% |  | 9.58% |  | 8/10/2027 |  |  | 198 |  |  |  | 196 |  |  |  | 191 |  |  |  | 0.03 |  |
Kele Holdco, Inc. |  | (8)(12) |  | First Lien Term Loan |  | S + 4.50% |  | 8.63% |  | 2/20/2028 |  |  | 198 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Surfaceprep Buyer, LLC |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 2/4/2030 |  |  | 1,897 |  |  |  | 1,897 |  |  |  | 1,878 |  |  |  | 0.27 |  |
SurfacePrep Buyer, LLC |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 2/4/2030 |  |  | 3,033 |  |  |  | 2,290 |  |  |  | 2,266 |  |  |  | 0.32 |  |
Surfaceprep Buyer, LLC |  | (13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 8.98% |  | 2/4/2030 |  |  | 360 |  |  |  | 360 |  |  |  | 357 |  |  |  | 0.05 |  |
Surfaceprep Buyer, LLC |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 2/4/2030 |  |  | 362 |  |  |  | 45 |  |  |  | 42 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,986 |  |  |  | 4,932 |  |  |  | 0.71 |  |
Transportation Infrastructure |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Psc Parent, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 9.13% |  | 4/3/2031 |  |  | 1,617 |  |  |  | 1,617 |  |  |  | 1,617 |  |  |  | 0.23 |  |
Psc Parent, Inc. |  | (8)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 4/3/2031 |  |  | 270 |  |  |  | 270 |  |  |  | 270 |  |  |  | 0.04 |  |
Psc Parent, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 9.13% |  | 4/3/2031 |  |  | 388 |  |  |  | 178 |  |  |  | 179 |  |  |  | 0.03 |  |
Psc Parent, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 9.13% |  | 4/3/2030 |  |  | 292 |  |  |  | 101 |  |  |  | 101 |  |  |  | 0.01 |  |
VRS Buyer, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 4.75% |  | 8.73% |  | 7/19/2032 |  |  | 9,319 |  |  |  | 9,273 |  |  |  | 9,319 |  |  |  | 1.33 |  |
VRS Buyer, Inc. |  | (7)(13) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 8.73% |  | 7/19/2032 |  |  | 1,908 |  |  |  | (5 | ) |  |  | — |  |  |  | — |  |
VRS Buyer, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 4.75% |  | 8.73% |  | 7/19/2032 |  |  | 1,272 |  |  |  | (6 | ) |  |  | — |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,428 |  |  |  | 11,486 |  |  |  | 1.64 |  |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Wireless Telecommunication Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alert Media, Inc. |  | (12) |  | First Lien Term Loan |  | S + 6.25% |  | 10.23% (Incl. 9.23% PIK) |  | 4/12/2027 |  | $ | 453 |  |  | $ | 453 |  |  | $ | 453 |  |  |  | 0.06 |  | %
Alert Media, Inc. |  | (7)(12) |  | First Lien Revolver |  | S + 5.25% |  | 9.23% |  | 4/12/2027 |  |  | 109 |  |  |  | — |  |  |  | — |  |  |  | — |  |
CCI Buyer, Inc. |  | (8)(13) |  | First Lien Term Loan |  | S + 5.00% |  | 8.98% |  | 5/13/2032 |  |  | 9,926 |  |  |  | 9,877 |  |  |  | 9,877 |  |  |  | 1.40 |  |
CCI Buyer, Inc. |  | (7)(13) |  | First Lien Revolver |  | S + 5.00% |  | 8.98% |  | 5/13/2032 |  |  | 580 |  |  |  | — |  |  |  | (3 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,330 |  |  |  | 10,327 |  |  |  | 1.46 |  |
Total Secured Debt Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,377,503 |  |  |  | 1,374,990 |  |  |  | 195.54 |  |
Unsecured Debt Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Diversified Consumer Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Apex Service Partners Intermediate 2, LLC |  | (15) |  | Subordinated Unsecured Delayed Draw Term Loan |  | N/A |  | 14.25% PIK |  | 4/23/2031 |  |  | 801 |  |  |  | 793 |  |  |  | 783 |  |  |  | 0.11 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 793 |  |  |  | 783 |  |  |  | 0.11 |  |
Total Unsecured Debt Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 793 |  |  |  | 783 |  |  |  | 0.11 |  |
Equity Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Automobile Components |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Clarity Technologies Holdings, LP |  | (9) |  | Common |  | — |  | — |  | — |  |  | 6 |  |  |  | 628 |  |  |  | 628 |  |  |  | 0.09 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 628 |  |  |  | 628 |  |  |  | 0.09 |  |
Capital Markets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lal Group Holdings, LLC |  | (9) |  | Common |  | — |  | — |  | — |  |  | 146 |  |  |  | 151 |  |  |  | 151 |  |  |  | 0.02 |  |
Lal Group Holdings, LLC |  | (9) |  | Preferred |  | — |  | — |  | — |  |  | 146 |  |  |  | 151 |  |  |  | 151 |  |  |  | 0.02 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 302 |  |  |  | 302 |  |  |  | 0.04 |  |
Chemicals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americhem, Inc. |  | (9) |  | Preferred |  | — |  | — |  | — |  |  | 2 |  |  |  | 245 |  |  |  | 295 |  |  |  | 0.04 |  |
Buckman Laboratories |  | (9) |  | Common |  | — |  | — |  | — |  |  | 373 |  |  |  | 373 |  |  |  | 373 |  |  |  | 0.05 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 618 |  |  |  | 668 |  |  |  | 0.09 |  |
Commercial Services and Supplies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Low Voltage Holdings Inc. |  | (9) |  | Preferred |  | — |  | — |  | — |  |  | 1 |  |  |  | 1,050 |  |  |  | 1,050 |  |  |  | 0.15 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,050 |  |  |  | 1,050 |  |  |  | 0.15 |  |
Containers and Packaging |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
KPCI Co-Invest 2, LP |  | (9) |  | Common |  | — |  | — |  | — |  |  | 1 |  |  |  | 726 |  |  |  | 726 |  |  |  | 0.10 |  |
TCB Holdings I LLC |  | (9) |  | Preferred |  | N/A |  | 14.00% PIK |  | — |  |  | 5 |  |  |  | 5,138 |  |  |  | 5,093 |  |  |  | 0.72 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,864 |  |  |  | 5,819 |  |  |  | 0.82 |  |
Diversified Consumer Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Seahawk Holdings, LP |  | (9) |  | Preferred |  | — |  | — |  | — |  |  | 1 |  |  |  | 1,301 |  |  |  | 1,431 |  |  |  | 0.20 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,301 |  |  |  | 1,431 |  |  |  | 0.20 |  |
Electronic Equipment, Instruments and Components |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
NSI Parent LP |  | (9) |  | Common |  | — |  | — |  | — |  |  | 52 |  |  |  | 52 |  |  |  | 61 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 52 |  |  |  | 61 |  |  |  | 0.01 |  |

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CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments (1) |  | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Financial Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
GTCR Momentum Aggregator LP |  | (9) |  | Preferred |  | N/A |  | 12.00% PIK |  | — |  | $ | 259 |  |  | $ | 280 |  |  | $ | 280 |  |  |  | 0.04 |  | %
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 280 |  |  |  | 280 |  |  |  | 0.04 |  |
Health Care Technology |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DeLorean Topco, L.P. |  | (9) |  | Common |  | — |  | — |  | — |  |  | 435 |  |  |  | 435 |  |  |  | 467 |  |  |  | 0.07 |  |
F&M Buyer LLC |  | (9) |  | Preferred |  | — |  | — |  | — |  |  | 365 |  |  |  | 365 |  |  |  | 467 |  |  |  | 0.07 |  |
Goldeneye Parent, LLC |  | (3)(9) |  | Preferred |  | — |  | — |  | — |  |  | — |  |  |  | 417 |  |  |  | 417 |  |  |  | 0.06 |  |
Goldeneye Parent, LLC |  | (9) |  | Common |  | — |  | — |  | — |  |  | 20 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Novacap TMT VI Co-Investment (Invita) LP |  | (9) |  | Common |  | — |  | — |  | — |  |  | 202 |  |  |  | 202 |  |  |  | 202 |  |  |  | 0.03 |  |
Unlimited Technology Holdings, LLC |  | (9) |  | Preferred |  | — |  | — |  | — |  |  | 552 |  |  |  | 552 |  |  |  | 552 |  |  |  | 0.08 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,971 |  |  |  | 2,105 |  |  |  | 0.31 |  |
Healthcare Providers and Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ACG Parent Holdings, LP |  | (3)(9) |  | Preferred |  | — |  | — |  | — |  |  | — |  |  |  | 279 |  |  |  | 279 |  |  |  | 0.04 |  |
ACG Parent Holdings, LP |  | (9) |  | Common |  | — |  | — |  | — |  |  | 3 |  |  |  | 3 |  |  |  | 3 |  |  |  | — |  |
EPFS Acquisition Holdings, LP |  | (3)(9) |  | Common |  | — |  | — |  | — |  |  | — |  |  |  | 156 |  |  |  | 156 |  |  |  | 0.02 |  |
MRO Corporation |  | (3)(9) |  | Common |  | — |  | — |  | — |  |  | — |  |  |  | 239 |  |  |  | 268 |  |  |  | 0.04 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 677 |  |  |  | 706 |  |  |  | 0.10 |  |
IT Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OMERS Apollo Investment Holdings, LLC |  | (9) |  | Preferred |  | — |  | — |  | — |  |  | 1,369 |  |  |  | 1,369 |  |  |  | 1,369 |  |  |  | 0.19 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,369 |  |  |  | 1,369 |  |  |  | 0.19 |  |
Professional Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Monarch Buyer, Inc. |  | (9) |  | Common |  | — |  | — |  | — |  |  | 1,376 |  |  |  | 1,376 |  |  |  | 1,376 |  |  |  | 0.20 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,376 |  |  |  | 1,376 |  |  |  | 0.20 |  |
Software |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Scorpion Holdings, LLC |  | (9) |  | Preferred |  | N/A |  | 8.00% PIK |  | — |  |  | 1 |  |  |  | 1,098 |  |  |  | 1,098 |  |  |  | 0.16 |  |
Scorpion Holdings, LLC |  | (9) |  | Common |  | — |  | — |  | — |  |  | 1,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,098 |  |  |  | 1,098 |  |  |  | 0.16 |  |
Specialty Retail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
SCW Holdings III Corp. |  | (9) |  | Preferred |  | — |  | — |  | — |  |  | 1 |  |  |  | 500 |  |  |  | 588 |  |  |  | 0.08 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 500 |  |  |  | 588 |  |  |  | 0.08 |  |
Textiles, Apparel and Luxury Goods |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gloves Buyer, Inc. |  | (9) |  | Common |  | — |  | — |  | — |  |  | 1 |  |  |  | 162 |  |  |  | 218 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 162 |  |  |  | 218 |  |  |  | 0.03 |  |
Transportation Infrastructure |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VRS Parent Holdings LP |  | (9) |  | Common |  | — |  | — |  | — |  |  | 3 |  |  |  | 286 |  |  |  | 286 |  |  |  | 0.04 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 286 |  |  |  | 286 |  |  |  | 0.04 |  |
Total Equity Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,534 |  |  |  | 17,985 |  |  |  | 2.55 |  |
Total Investments - non-controlled/non-affiliated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,395,830 |  |  |  | 1,393,758 |  |  |  | 198.20 |  |
Short-term Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BlackRock Liquidity T-Fund - Institutional Shares |  | (11) |  |  |  |  |  |  |  |  |  |  |  |  |  | 29,010 |  |  |  | 29,010 |  |  |  | 4.12 |  |
Total Short-term Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 29,010 |  |  |  | 29,010 |  |  |  | 4.12 |  |
Total Investments at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,424,840 |  |  | $ | 1,422,768 |  |  |  | 202.32 |  | %

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

1.
Unless otherwise indicated, issuers of debt and equity investments held by the Company (which such term “Company” shall include the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. The total par amount is presented for debt investments and the number of shares or units owned is presented for equity investments.
2.
The majority of the investments bear interest at a rate that may be determined by reference to the Secured Overnight Financing Rate ("SOFR" or "S"), Prime Rate (“Prime” or “P”), Canadian Overnight Repo Rate Average ("CORRA" or "C"), Sterling Overnight Index Average ("SONIA" or "SON"), Euro Interbank Offered Rate ("EURIBOR" or "E") or other relevant benchmark, which reset daily, monthly, quarterly, semiannually or annually. For each such investment, the Company has provided the spread over reference rates and the current contractual interest rate in effect on September 30, 2025. Certain investments are subject to an interest rate floor, or rate cap. Certain investments contain a Payment-in-Kind (“PIK”) provision. SOFR based contracts may include a credit spread adjustment, which is included within the stated all-in interest rate, if applicable, that is charged in addition to the base rate and the stated spread.
3.
Investments with par value / shares less than 500 shown as zero.
4.
The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").
5.
These investments were not valued using unobservable inputs and are not considered Level 3 investments. Fair value was determined in good faith by the Adviser as the Company’s valuation designee, subject to the oversight of the Board of Trustees (the “Board”) (see Note 2 and Note 5), pursuant to the Company’s valuation policy.
6.
The investment is not a qualifying asset, in whole or in part, under Section 55(a) of the 1940 Act. The Company m ay not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of September 30, 2025, non-qualifying assets represented 7.39% of total assets as cal culated in accordance with regulatory requirements.
7.
Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair value results from unamortized fees, which are capitalized to the investment cost. The unfunded loan commitment may be subject to a commitment termination date that may expire prior to the maturity date stated. Such commitments are subject to the satisfaction of certain conditions set forth in the documents governing these loans and letters of credit and there can be no assurance that such conditions will be satisfied. See the following page and Note 7 to the Consolidated Financial Statements for more information on the Company’s unfunded commitments.
8.
Position or portion thereof is pledged as collateral under the Morgan Stanley Facility.

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

9.
Security exempt from registration under the Securities Act of 1933 (the “Securities Act”), and may be deemed to be “restricted securities” under the Securities Act. As of September 30, 2025, the aggregate fair value of these securities is $17,985 or 2.56% of the Company’s net assets. The acquisition dates of these restricted securities are as follows:

Portfolio Company |  | Investment |  | Acquisition Date
ACG Parent Holdings, LP |  | Preferred |  | July 25, 2025
ACG Parent Holdings, LP |  | Common |  | July 25, 2025
Americhem, Inc. |  | Preferred |  | February 28, 2025
Buckman Laboratories |  | Common |  | July 1, 2025
Clarity Technologies Holdings, LP |  | Common |  | September 25, 2025
DeLorean Topco, L.P. |  | Common |  | December 16, 2024
EPFS Acquisition Holdings, LP |  | Common |  | July 31, 2025
F&M Buyer LLC |  | Preferred |  | March 18, 2025
Gloves Buyer, Inc. |  | Common |  | June 6, 2025
Goldeneye Parent, LLC |  | Common |  | March 31, 2025
Goldeneye Parent, LLC |  | Preferred |  | March 31, 2025
GTCR Momentum Aggregator LP |  | Preferred |  | July 2, 2025
KPCI Co-Invest 2, LP |  | Common |  | September 26, 2025
Lal Group Holdings, LLC |  | Common |  | August 6, 2025
Lal Group Holdings, LLC |  | Preferred |  | August 6, 2025
Low Voltage Holdings Inc. |  | Preferred |  | April 28, 2025
Monarch Buyer, Inc. |  | Common |  | June 2, 2025
MRO Corporation |  | Common |  | June 9, 2025
Novacap TMT VI Co-Investment (Invita) LP |  | Common |  | August 12, 2025
NSI Parent LP |  | Common |  | December 23, 2024
OMERS Apollo Investment Holdings, LLC |  | Preferred |  | December 30, 2024
Scorpion Holdings, LLC |  | Preferred |  | December 27, 2024
Scorpion Holdings, LLC |  | Common |  | December 27, 2024
SCW Holdings III Corp. |  | Preferred |  | March 17, 2025
Seahawk Holdings, LP |  | Preferred |  | December 19, 2024
TCB Holdings I LLC |  | Preferred |  | January 31, 2025
Unlimited Technology Holdings, LLC |  | Preferred |  | March 12, 2025
VRS Parent Holdings LP |  | Common |  | July 18, 2025

10.
These are co-investments made with the Company’s affiliates in accordance with the terms of the exemptive order the Company received from the Securities and Exchange Commission (the “SEC”) permitting the Company to do so (see Note 3 to the consolidated financial statements for discussion of the exemptive order from the SEC).
11.
Short-term investments amounti ng to $29,010 are invested in money market funds (BlackRock Liquidity T-Fund - Institutional Shares) and would be categorized as Level 1 under the ASC 820 fair value level hierarchy as of September 30, 2025.
12.
Loan includes interest floor of 1.00%.
13.
Loan includes interest floor of 0.75%.
14.
Loan includes interest floor of 0.50%.
15.
Loan includes interest floor of 0.00%.

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

As of September 30, 2025, the Company had the following commitments to fund various revolving and delayed draw loans. Such commitments, also included in the Consolidated Schedule of Investments above, are subject to the satisfaction of certain conditions set forth in the documents governing these loans. See Note 7 to the Consolidated Financial Statements for more information on the Company's unfunded commitments.

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
123Dentist Inc. |  | Delayed Draw Term Loan |  | 8/10/2026 |  | $ | 1,291 |  |  | $ | (5 | )
1364720 B.C. LTD. |  | Delayed Draw Term Loan |  | 4/3/2027 |  |  | 477 |  |  |  | — |
AAH Topco., LLC |  | Delayed Draw Term Loan |  | 4/1/2027 |  |  | 2,705 |  |  |  | — |
AB Centers Acquisition Corporation |  | Delayed Draw Term Loan |  | 7/2/2026 |  |  | 290 |  |  |  | (1 | )
AB Centers Acquisition Corporation |  | Revolver |  | 7/2/2031 |  |  | 428 |  |  |  | (2 | )
ABC Legal Holdings, LLC |  | Delayed Draw Term Loan |  | 8/14/2027 |  |  | 393 |  |  |  | (2 | )
ABC Legal Holdings, LLC |  | Revolver |  | 8/13/2032 |  |  | 255 |  |  |  | (1 | )
Acentra Holdings, LLC |  | Delayed Draw Term Loan |  | 3/20/2026 |  |  | 220 |  |  |  | — |
Alert Media, Inc. |  | Revolver |  | 4/12/2027 |  |  | 109 |  |  |  | — |
AMBA Buyer, Inc. |  | Revolver |  | 7/30/2027 |  |  | 223 |  |  |  | (1 | )
American Residential Services LLC |  | Revolver |  | 1/31/2030 |  |  | 870 |  |  |  | (2 | )
Americhem, Inc. |  | Delayed Draw Term Loan |  | 2/28/2027 |  |  | 2,690 |  |  |  | (13 | )
Americhem, Inc. |  | Revolver |  | 3/1/2032 |  |  | 1,906 |  |  |  | (10 | )
Amerilife Holdings LLC |  | Delayed Draw Term Loan |  | 6/18/2026 |  |  | 2,142 |  |  |  | (5 | )
Amerilife Holdings LLC |  | Revolver |  | 8/31/2028 |  |  | 463 |  |  |  | (1 | )
Ampirical Solutions, LLC |  | Delayed Draw Term Loan |  | 9/30/2027 |  |  | 2,655 |  |  |  | (13 | )
Ampirical Solutions, LLC |  | Revolver |  | 9/30/2032 |  |  | 708 |  |  |  | (4 | )
Analytic Partners, LP |  | Revolver |  | 4/4/2030 |  |  | 502 |  |  |  | — |
Anchor Packaging, LLC |  | Revolver |  | 4/17/2029 |  |  | 100 |  |  |  | — |
Apex Service Partners, LLC |  | Revolver |  | 10/24/2029 |  |  | 660 |  |  |  | — |
Applied Technical Services, LLC |  | Delayed Draw Term Loan |  | 4/8/2026 |  |  | 465 |  |  |  | — |
Applied Technical Services, LLC |  | Revolver |  | 4/8/2031 |  |  | 542 |  |  |  | — |
Aprio Advisory Group, LLC |  | Delayed Draw Term Loan |  | 4/26/2027 |  |  | 3,226 |  |  |  | (15 | )
Aprio Advisory Group, LLC |  | Revolver |  | 8/1/2031 |  |  | 1,638 |  |  |  | (8 | )
AQ Carver Buyer, Inc. |  | Revolver |  | 8/2/2028 |  |  | 100 |  |  |  | — |
AQA Acquisition Holding, Inc. |  | Revolver |  | 3/3/2028 |  |  | 100 |  |  |  | — |
Arax MidCo, LLC |  | Delayed Draw Term Loan |  | 11/30/2026 |  |  | 2,951 |  |  |  | — |
Arax MidCo, LLC |  | Revolver |  | 4/11/2029 |  |  | 379 |  |  |  | — |
Arrow Management Acquisition, LLC |  | Delayed Draw Term Loan |  | 7/27/2027 |  |  | 785 |  |  |  | (4 | )
Arrow Management Acquisition, LLC |  | Revolver |  | 7/26/2032 |  |  | 262 |  |  |  | (1 | )
Artifact Bidco, Inc. |  | Delayed Draw Term Loan |  | 7/27/2027 |  |  | 821 |  |  |  | — |
Artifact Bidco, Inc. |  | Revolver |  | 7/26/2030 |  |  | 587 |  |  |  | — |
Athenahealth Group Inc. |  | Revolver |  | 2/15/2027 |  |  | 100 |  |  |  | — |
Aurora Plastics, LLC |  | Delayed Draw Term Loan |  | 4/10/2027 |  |  | 1,140 |  |  |  | (5 | )
Ave Holdings III, Corp. |  | Revolver |  | 2/25/2028 |  |  | 514 |  |  |  | (15 | )
AWP Group Holdings, Inc. |  | Revolver |  | 12/23/2030 |  |  | 184 |  |  |  | (2 | )
Bamboo US BidCo LLC |  | Delayed Draw Term Loan |  | 11/20/2026 |  |  | 714 |  |  |  | (7 | )
Bamboo US BidCo LLC |  | Revolver |  | 10/1/2029 |  |  | 826 |  |  |  | (8 | )
Bamboo US BidCo LLC |  | Revolver |  | 9/30/2030 |  |  | 55 |  |  |  | (1 | )
BC Group Holdings, Inc. |  | Delayed Draw Term Loan |  | 8/21/2027 |  |  | 2,156 |  |  |  | (10 | )
BCPE North Star US Holdco 2, Inc. |  | Revolver |  | 3/10/2028 |  |  | 61 |  |  |  | — |
Bellwether Buyer, L.L.C. |  | Delayed Draw Term Loan |  | 10/16/2027 |  |  | 2,178 |  |  |  | (5 | )
Bellwether Buyer, L.L.C. |  | Revolver |  | 4/15/2032 |  |  | 653 |  |  |  | (2 | )

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CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
Beyond Risk Parent Holdings, Inc. |  | Delayed Draw Term Loan |  | 4/9/2026 |  | $ | 5,843 |  |  | $ | — |
Blackbird Purchaser, Inc. |  | Delayed Draw Term Loan |  | 12/19/2025 |  |  | 76 |  |  |  | — |
Blackbird Purchaser, Inc. |  | Revolver |  | 12/19/2029 |  |  | 37 |  |  |  | — |
Blackhawk Industrial Distribution, Inc. |  | Revolver |  | 9/17/2026 |  |  | 565 |  |  |  | (7 | )
Bracket Intermediate Holding Corp. |  | Revolver |  | 2/7/2028 |  |  | 100 |  |  |  | — |
BradyPlus Holdings, LLC |  | Delayed Draw Term Loan |  | 11/1/2025 |  |  | 471 |  |  |  | — |
Bridges Consumer Healthcare Intermediate LLC |  | Delayed Draw Term Loan |  | 12/21/2026 |  |  | 447 |  |  |  | — |
Bridges Consumer Healthcare Intermediate LLC |  | Delayed Draw Term Loan |  | 3/31/2027 |  |  | 2,000 |  |  |  | — |
Bridges Consumer Healthcare Intermediate LLC |  | Revolver |  | 12/22/2031 |  |  | 894 |  |  |  | — |
Bulab Holdings, Inc. |  | Delayed Draw Term Loan |  | 7/1/2032 |  |  | 1,931 |  |  |  | (10 | )
Bulab Holdings, Inc. |  | Revolver |  | 7/1/2032 |  |  | 1,862 |  |  |  | (9 | )
Carr, Riggs & Ingram Capital, L.L.C. |  | Delayed Draw Term Loan |  | 11/18/2026 |  |  | 1,149 |  |  |  | — |
Carr, Riggs & Ingram Capital, L.L.C. |  | Revolver |  | 11/18/2031 |  |  | 667 |  |  |  | — |
CCI Buyer, Inc. |  | Revolver |  | 5/13/2032 |  |  | 580 |  |  |  | (3 | )
CDL Parent, Inc. |  | Delayed Draw Term Loan |  | 12/7/2027 |  |  | 702 |  |  |  | (4 | )
Cerity Partners Equity Holding LLC |  | Delayed Draw Term Loan |  | 1/21/2027 |  |  | 4,646 |  |  |  | — |
Cerity Partners Equity Holding LLC |  | Revolver |  | 7/28/2028 |  |  | 475 |  |  |  | — |
CFGI Holdings, LLC |  | Revolver |  | 11/2/2027 |  |  | 270 |  |  |  | (2 | )
CFs Brands, LLC |  | Revolver |  | 10/2/2029 |  |  | 493 |  |  |  | — |
ClearCapital Holdings, LLC |  | Delayed Draw Term Loan |  | 7/6/2027 |  |  | 1,024 |  |  |  | (6 | )
ClearCapital Holdings, LLC |  | Revolver |  | 6/30/2032 |  |  | 410 |  |  |  | (2 | )
Cloud Software Group, Inc. |  | Revolver |  | 9/28/2029 |  |  | 100 |  |  |  | — |
Clydesdale Acquisition Holdings, Inc. |  | Delayed Draw Term Loan |  | 4/1/2032 |  |  | 33 |  |  |  | — |
Cold Chain Technologies, LLC |  | Revolver |  | 7/2/2026 |  |  | 248 |  |  |  | (1 | )
Concord Global Acquisition, LLC |  | Delayed Draw Term Loan |  | 12/28/2026 |  |  | 1,304 |  |  |  | — |
Concord Global Acquisition, LLC |  | Revolver |  | 12/29/2031 |  |  | 686 |  |  |  | — |
Continental Buyer, Inc. |  | Delayed Draw Term Loan |  | 8/15/2027 |  |  | 1,682 |  |  |  | (4 | )
Continental Buyer, Inc. |  | Revolver |  | 4/2/2031 |  |  | 1,398 |  |  |  | (3 | )
CPC/Cirtec Holdings, Inc. |  | Revolver |  | 10/31/2028 |  |  | 468 |  |  |  | (2 | )
CRCI Longhorn Holdings, Inc. |  | Delayed Draw Term Loan |  | 8/28/2026 |  |  | 1,529 |  |  |  | — |
CRCI Longhorn Holdings, Inc. |  | Revolver |  | 8/27/2031 |  |  | 1,020 |  |  |  | — |
Crisis Prevention Institute, Inc. |  | Revolver |  | 4/9/2029 |  |  | 100 |  |  |  | — |
Crown Laundry, LLC |  | Delayed Draw Term Loan |  | 5/29/2027 |  |  | 435 |  |  |  | (2 | )
Crown Laundry, LLC |  | Revolver |  | 5/28/2031 |  |  | 507 |  |  |  | (2 | )
Cub Financing Intermediate, LLC |  | Delayed Draw Term Loan |  | 6/28/2026 |  |  | 1,024 |  |  |  | — |
CVP Holdco, Inc. |  | Delayed Draw Term Loan |  | 6/29/2026 |  |  | 1,344 |  |  |  | (3 | )
CVP Holdco, Inc. |  | Revolver |  | 6/28/2030 |  |  | 686 |  |  |  | (1 | )
CVR Management, LLC |  | Delayed Draw Term Loan |  | 1/4/2027 |  |  | 111 |  |  |  | — |
DCG Acquisition Corp. |  | Delayed Draw Term Loan |  | 6/13/2026 |  |  | 468 |  |  |  | (4 | )
DeLorean Purchaser, Inc. |  | Revolver |  | 12/16/2031 |  |  | 653 |  |  |  | (5 | )
Disa Holdings Corp. |  | Delayed Draw Term Loan |  | 3/1/2026 |  |  | 17 |  |  |  | — |
DS Admiral Bidco, LLC |  | Revolver |  | 6/26/2029 |  |  | 100 |  |  |  | — |
DT Intermediate Holdco, Inc. |  | Delayed Draw Term Loan |  | 9/14/2026 |  |  | 1,658 |  |  |  | — |
DT1 Midco Corp |  | Delayed Draw Term Loan |  | 6/4/2027 |  |  | 2,522 |  |  |  | (13 | )
DT1 Midco Corp |  | Revolver |  | 12/30/2030 |  |  | 1,183 |  |  |  | — |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
Dwyer Instruments, LLC |  | Delayed Draw Term Loan |  | 11/21/2026 |  | $ | 505 |  |  | $ | (5 | )
Dwyer Instruments, LLC |  | Revolver |  | 7/20/2029 |  |  | 649 |  |  |  | (6 | )
Eagan Parent, Inc. |  | Delayed Draw Term Loan |  | 9/8/2027 |  |  | 1,441 |  |  |  | (4 | )
Eagan Parent, Inc. |  | Revolver |  | 9/8/2032 |  |  | 769 |  |  |  | (2 | )
Eclipse Buyer, Inc. |  | Delayed Draw Term Loan |  | 9/7/2026 |  |  | 1,333 |  |  |  | — |
Eclipse Buyer, Inc. |  | Revolver |  | 9/8/2031 |  |  | 676 |  |  |  | — |
Edgeco Buyer, Inc. |  | Delayed Draw Term Loan |  | 12/20/2026 |  |  | 2,433 |  |  |  | — |
Edgeco Buyer, Inc. |  | Revolver |  | 6/1/2028 |  |  | 289 |  |  |  | — |
Edpo, LLC |  | Delayed Draw Term Loan |  | 8/29/2027 |  |  | 1,657 |  |  |  | (8 | )
Edpo, LLC |  | Revolver |  | 12/8/2028 |  |  | 675 |  |  |  | (3 | )
Emburse, Inc. |  | Delayed Draw Term Loan |  | 5/29/2027 |  |  | 1,316 |  |  |  | (3 | )
Emburse, Inc. |  | Revolver |  | 5/28/2032 |  |  | 1,316 |  |  |  | (3 | )
Empower Payments Investor, LLC |  | Delayed Draw Term Loan |  | 6/28/2027 |  |  | 1,805 |  |  |  | (14 | )
Empower Payments Investor, LLC |  | Revolver |  | 3/12/2030 |  |  | 163 |  |  |  | (1 | )
Empyrean Solutions, LLC |  | Delayed Draw Term Loan |  | 11/25/2026 |  |  | 553 |  |  |  | — |
Empyrean Solutions, LLC |  | Revolver |  | 11/26/2031 |  |  | 207 |  |  |  | — |
Ensemble RCM, LLC |  | Revolver |  | 6/27/2028 |  |  | 100 |  |  |  | — |
Enthusiast Auto Holdings, LLC |  | Revolver |  | 12/19/2026 |  |  | 64 |  |  |  | — |
Enverus Holdings, Inc. |  | Delayed Draw Term Loan |  | 12/22/2025 |  |  | 38 |  |  |  | — |
Enverus Holdings, Inc. |  | Revolver |  | 12/24/2029 |  |  | 205 |  |  |  | — |
EPFS Buyer, Inc. |  | Delayed Draw Term Loan |  | 7/31/2027 |  |  | 1,029 |  |  |  | (5 | )
EPFS Buyer, Inc. |  | Revolver |  | 7/31/2031 |  |  | 686 |  |  |  | (3 | )
Essential Services Holding Corporation |  | Delayed Draw Term Loan |  | 6/17/2026 |  |  | 395 |  |  |  | (1 | )
Essential Services Holding Corporation |  | Revolver |  | 6/17/2030 |  |  | 197 |  |  |  | — |
Excelitas Technologies Corp. |  | Delayed Draw Term Loan |  | 5/1/2026 |  |  | 2,522 |  |  |  | (3 | )
Eyesouth Eye Care Holdco, LLC |  | Delayed Draw Term Loan |  | 4/1/2026 |  |  | 1,840 |  |  |  | — |
F&M Buyer LLC |  | Delayed Draw Term Loan |  | 3/19/2027 |  |  | 1,194 |  |  |  | — |
F&M Buyer LLC |  | Revolver |  | 3/18/2032 |  |  | 522 |  |  |  | — |
Flint Opco, LLC |  | Delayed Draw Term Loan |  | 6/27/2027 |  |  | 3,219 |  |  |  | — |
Flint Opco, LLC |  | Delayed Draw Term Loan |  | 6/1/2026 |  |  | 1,117 |  |  |  | — |
Flow Control Solutions, Inc. |  | Delayed Draw Term Loan |  | 6/28/2026 |  |  | 3,984 |  |  |  | — |
Flow Control Solutions, Inc. |  | Revolver |  | 3/29/2029 |  |  | 722 |  |  |  | — |
Foreside Financial Group, LLC |  | Delayed Draw Term Loan |  | 3/13/2026 |  |  | 10,285 |  |  |  | — |
Foundation Risk Partners, Corp. |  | Delayed Draw Term Loan |  | 2/26/2027 |  |  | 4,079 |  |  |  | — |
Fourth Enterprises, LLC |  | Delayed Draw Term Loan |  | 3/21/2027 |  |  | 2,079 |  |  |  | (10 | )
Fourth Enterprises, LLC |  | Revolver |  | 3/21/2031 |  |  | 786 |  |  |  | (4 | )
FR Vision Holdings Inc |  | Delayed Draw Term Loan |  | 1/20/2026 |  |  | 2,134 |  |  |  | — |
FR Vision Holdings Inc |  | Revolver |  | 1/22/2030 |  |  | 248 |  |  |  | — |
Frazier & Deeter Advisory, LLC |  | Delayed Draw Term Loan |  | 5/2/2027 |  |  | 937 |  |  |  | — |
Frazier & Deeter Advisory, LLC |  | Revolver |  | 5/2/2031 |  |  | 325 |  |  |  | — |
Gloves Buyer, Inc. |  | Revolver |  | 5/22/2030 |  |  | 420 |  |  |  | (11 | )
Goldeneye Parent, LLC |  | Revolver |  | 3/31/2032 |  |  | 1,744 |  |  |  | — |
GS Acquisitionco, Inc. |  | Delayed Draw Term Loan |  | 3/26/2026 |  |  | 125 |  |  |  | — |
GSV Holding, LLC |  | Revolver |  | 10/18/2030 |  |  | 217 |  |  |  | — |
Harvey Tool Company, LLC |  | Delayed Draw Term Loan |  | 6/28/2026 |  |  | 3,424 |  |  |  | (25 | )
Harvey Tool Company, LLC |  | Revolver |  | 8/6/2032 |  |  | 1,179 |  |  |  | (8 | )

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
Health Buyer LLC |  | Delayed Draw Term Loan |  | 5/15/2026 |  | $ | 2,643 |  |  | $ | — |
HeartLand PPC Buyer, LLC |  | Delayed Draw Term Loan |  | 12/13/2025 |  |  | 113 |  |  |  | — |
HeartLand PPC Buyer, LLC |  | Revolver |  | 12/12/2029 |  |  | 183 |  |  |  | — |
Heights Buyer, LLC |  | Delayed Draw Term Loan |  | 6/25/2027 |  |  | 1,254 |  |  |  | (6 | )
Heights Buyer, LLC |  | Revolver |  | 8/25/2028 |  |  | 677 |  |  |  | — |
Hercules Borrower LLC |  | Delayed Draw Term Loan |  | 12/16/2025 |  |  | 2,092 |  |  |  | (10 | )
Hercules Borrower LLC |  | Revolver |  | 12/15/2028 |  |  | 589 |  |  |  | (3 | )
Higher Logic, LLC |  | Revolver |  | 1/10/2029 |  |  | 380 |  |  |  | — |
HighTower Holding, LLC |  | Revolver |  | 2/1/2030 |  |  | 110 |  |  |  | — |
HP RSS Buyer, Inc. |  | Delayed Draw Term Loan |  | 7/2/2027 |  |  | 4,391 |  |  |  | (21 | )
HSI Halo Acquisition, Inc. |  | Delayed Draw Term Loan |  | 6/28/2026 |  |  | 699 |  |  |  | — |
HSI Halo Acquisition, Inc. |  | Revolver |  | 6/28/2030 |  |  | 932 |  |  |  | — |
HT Intermediary III, Inc. |  | Delayed Draw Term Loan |  | 11/13/2026 |  |  | 1,527 |  |  |  | (8 | )
HT Intermediary III, Inc. |  | Revolver |  | 11/12/2030 |  |  | 554 |  |  |  | (3 | )
Hydraulic Technologies USA LLC |  | Revolver |  | 6/3/2030 |  |  | 62 |  |  |  | (1 | )
Hyphen Solutions, LLC |  | Delayed Draw Term Loan |  | 8/6/2027 |  |  | 501 |  |  |  | (1 | )
Hyphen Solutions, LLC |  | Revolver |  | 8/6/2032 |  |  | 301 |  |  |  | (1 | )
IG Investments Holdings, LLC |  | Revolver |  | 9/22/2028 |  |  | 293 |  |  |  | — |
ImageFirst Holdings, LLC |  | Revolver |  | 3/12/2030 |  |  | 2,800 |  |  |  | — |
Imagine 360 LLC |  | Delayed Draw Term Loan |  | 9/20/2026 |  |  | 767 |  |  |  | — |
Imagine 360 LLC |  | Revolver |  | 9/30/2028 |  |  | 327 |  |  |  | — |
IMO Investor Holdings, Inc. |  | Revolver |  | 5/11/2028 |  |  | 370 |  |  |  | — |
Inhabitiq Inc. |  | Delayed Draw Term Loan |  | 1/11/2027 |  |  | 697 |  |  |  | — |
Inhabitiq Inc. |  | Revolver |  | 1/12/2032 |  |  | 436 |  |  |  | — |
Innovative Systems L.L.C. |  | Delayed Draw Term Loan |  | 8/21/2027 |  |  | 1,453 |  |  |  | (7 | )
Innovative Systems L.L.C. |  | Revolver |  | 8/20/2032 |  |  | 484 |  |  |  | (2 | )
Innovetive Petcare, Inc. |  | Delayed Draw Term Loan |  | 7/23/2027 |  |  | 1,342 |  |  |  | (13 | )
Integrated Power Services Holdings, Inc. |  | Delayed Draw Term Loan |  | 5/7/2026 |  |  | 5,106 |  |  |  | (10 | )
Invictus Buyer, LLC |  | Delayed Draw Term Loan |  | 6/4/2026 |  |  | 3,266 |  |  |  | — |
Invictus Buyer, LLC |  | Revolver |  | 6/3/2031 |  |  | 1,210 |  |  |  | — |
JHCC Holdings LLC |  | Revolver |  | 9/9/2027 |  |  | 101 |  |  |  | (1 | )
JKC Parent, Inc. |  | Delayed Draw Term Loan |  | 6/2/2027 |  |  | 702 |  |  |  | (4 | )
JKC Parent, Inc. |  | Revolver |  | 2/13/2032 |  |  | 87 |  |  |  | — |
Kaseya Inc. |  | Revolver |  | 3/20/2030 |  |  | 761 |  |  |  | — |
Kenco PPC Buyer LLC |  | Revolver |  | 11/15/2029 |  |  | 287 |  |  |  | — |
KPA Parent Holdings, Inc. |  | Delayed Draw Term Loan |  | 3/15/2027 |  |  | 1,016 |  |  |  | — |
KPA Parent Holdings, Inc. |  | Revolver |  | 3/12/2032 |  |  | 711 |  |  |  | — |
Kriv Acquisition Inc. |  | Delayed Draw Term Loan |  | 10/1/2027 |  |  | 2,042 |  |  |  | (10 | )
Kriv Acquisition Inc. |  | Revolver |  | 7/31/2031 |  |  | 168 |  |  |  | (1 | )
Kwol Acquisition, Inc. |  | Delayed Draw Term Loan |  | 8/25/2027 |  |  | 1,918 |  |  |  | (9 | )
Kwol Acquisition, Inc. |  | Revolver |  | 12/12/2029 |  |  | 1,066 |  |  |  | (5 | )
Lido Advisors, LLC |  | Delayed Draw Term Loan |  | 5/10/2027 |  |  | 2,260 |  |  |  | (11 | )
Lido Advisors, LLC |  | Revolver |  | 5/10/2032 |  |  | 256 |  |  |  | (1 | )
Lightbeam Bidco Inc. |  | Revolver |  | 5/4/2029 |  |  | 491 |  |  |  | — |
Low Voltage Holdings Inc. |  | Delayed Draw Term Loan |  | 10/28/2027 |  |  | 3,223 |  |  |  | (8 | )

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
Low Voltage Holdings Inc. |  | Revolver |  | 4/28/2032 |  | $ | 1,421 |  |  | $ | (4 | )
Low Voltage Holdings Inc. |  | Revolver |  | 4/28/2032 |  |  | 128 |  |  |  | — |
Lubricant Engineers |  | Delayed Draw Term Loan |  | 3/31/2027 |  |  | 1,372 |  |  |  | — |
Lubricant Engineers |  | Revolver |  | 9/1/2029 |  |  | 885 |  |  |  | — |
Marina Acquisition, Inc. |  | Revolver |  | 7/1/2030 |  |  | 227 |  |  |  | (5 | )
Mclarens Midco Inc. |  | Delayed Draw Term Loan |  | 12/19/2027 |  |  | 200 |  |  |  | (1 | )
Mclarens Midco Inc. |  | Revolver |  | 12/19/2027 |  |  | 287 |  |  |  | (1 | )
MDC Interior Acquisition Inc |  | Revolver |  | 4/26/2030 |  |  | 42 |  |  |  | — |
Merlin Buyer, Inc. |  | Revolver |  | 12/14/2026 |  |  | 1,450 |  |  |  | — |
Minotaur Acquisition, Inc. |  | Delayed Draw Term Loan |  | 6/4/2026 |  |  | 1,455 |  |  |  | (12 | )
Minotaur Acquisition, Inc. |  | Revolver |  | 6/3/2030 |  |  | 873 |  |  |  | (7 | )
Monarch Buyer, Inc. |  | Delayed Draw Term Loan |  | 6/3/2027 |  |  | 2,051 |  |  |  | (10 | )
Monarch Buyer, Inc. |  | Revolver |  | 6/2/2032 |  |  | 923 |  |  |  | (5 | )
Monotype Imaging Holdings Inc. |  | Delayed Draw Term Loan |  | 2/28/2026 |  |  | 76 |  |  |  | — |
Monotype Imaging Holdings Inc. |  | Revolver |  | 2/28/2030 |  |  | 154 |  |  |  | (1 | )
Montana Buyer Inc. |  | Revolver |  | 7/22/2028 |  |  | 307 |  |  |  | — |
Movati Athletic (Group) Inc. |  | Delayed Draw Term Loan |  | 5/30/2026 |  |  | 659 |  |  |  | (2 | )
MRI Software LLC |  | Revolver |  | 2/10/2027 |  |  | 239 |  |  |  | — |
MRO Corporation |  | Delayed Draw Term Loan |  | 6/9/2027 |  |  | 795 |  |  |  | (6 | )
MRO Corporation |  | Revolver |  | 6/9/2032 |  |  | 795 |  |  |  | (6 | )
Nasuni Corporation |  | Revolver |  | 9/10/2030 |  |  | 1,302 |  |  |  | (9 | )
Navex Topco, Inc. |  | Revolver |  | 11/9/2028 |  |  | 1,797 |  |  |  | — |
Nelipak Holding Company |  | Delayed Draw Term Loan |  | 3/29/2027 |  |  | 2,486 |  |  |  | (37 | )
Nelipak Holding Company |  | Revolver |  | 3/26/2031 |  |  | 705 |  |  |  | (11 | )
Net Health Acquisition Corp. |  | Revolver |  | 7/7/2031 |  |  | 973 |  |  |  | (5 | )
Noble Midco 3 Limited |  | Delayed Draw Term Loan |  | 6/12/2027 |  |  | 824 |  |  |  | — |
Noble Midco 3 Limited |  | Revolver |  | 12/10/2030 |  |  | 1,120 |  |  |  | — |
North Star Acquisitionco, LLC |  | Delayed Draw Term Loan |  | 5/1/2026 |  |  | 11 |  |  |  | — |
North Star Acquisitionco, LLC |  | Revolver |  | 5/3/2029 |  |  | 486 |  |  |  | — |
Oakbridge Insurance Agency, LLC |  | Delayed Draw Term Loan |  | 6/21/2027 |  |  | 1,871 |  |  |  | — |
Oeconnection LLC |  | Delayed Draw Term Loan |  | 12/30/2026 |  |  | 2,138 |  |  |  | 7 |
Oeconnection LLC |  | Revolver |  | 4/22/2031 |  |  | 482 |  |  |  | — |
OLO Parent, Inc. |  | Revolver |  | 9/13/2032 |  |  | 799 |  |  |  | (2 | )
Onit, Inc. |  | Delayed Draw Term Loan |  | 1/28/2027 |  |  | 2,786 |  |  |  | — |
Onit, Inc. |  | Revolver |  | 1/27/2032 |  |  | 929 |  |  |  | — |
ONS MSO, LLC |  | Revolver |  | 7/7/2028 |  |  | 17 |  |  |  | — |
Onsite Holdings, LLC |  | Delayed Draw Term Loan |  | 12/19/2025 |  |  | 938 |  |  |  | (5 | )
Onyx-Fire Protection Services Inc. |  | Delayed Draw Term Loan |  | 7/31/2026 |  |  | 618 |  |  |  | — |
Onyx-Fire Protection Services Inc. |  | Revolver |  | 7/31/2031 |  |  | 1,441 |  |  |  | — |
Orsini Pharmaceutical Services, LLC |  | Revolver |  | 5/22/2030 |  |  | 226 |  |  |  | (2 | )
Packaging Coordinators Midco, Inc. |  | Delayed Draw Term Loan |  | 4/23/2026 |  |  | 4,882 |  |  |  | (24 | )
Packaging Coordinators Midco, Inc. |  | Revolver |  | 1/22/2032 |  |  | 926 |  |  |  | (5 | )
Pareto Health Intermediate Holdings, Inc. |  | Delayed Draw Term Loan |  | 12/31/2027 |  |  | 653 |  |  |  | (3 | )
Pathstone Family Office LLC |  | Delayed Draw Term Loan |  | 6/22/2026 |  |  | 1,454 |  |  |  | (4 | )
Pathstone Family Office LLC |  | Revolver |  | 5/15/2028 |  |  | 374 |  |  |  | (1 | )
Patriot Growth Insurance Services, LLC |  | Revolver |  | 10/16/2028 |  |  | 534 |  |  |  | — |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
Phantom Purchaser, Inc. |  | Revolver |  | 9/19/2031 |  | $ | 1,465 |  |  | $ | (7 | )
Phoenix 1 Buyer Corp. |  | Revolver |  | 11/20/2029 |  |  | 1,142 |  |  |  | — |
Plaskolite PPC Intermediate II LLC |  | Revolver |  | 2/7/2030 |  |  | 90 |  |  |  | (6 | )
Potters Industries LLC |  | Revolver |  | 9/14/2027 |  |  | 100 |  |  |  | — |
Power Grid Holdings, Inc. |  | Revolver |  | 12/2/2030 |  |  | 783 |  |  |  | (9 | )
Premise Health Holding Corp. |  | Revolver |  | 3/1/2030 |  |  | 712 |  |  |  | — |
Prism Parent Co. Inc. |  | Delayed Draw Term Loan |  | 9/19/2026 |  |  | 849 |  |  |  | (8 | )
Proampac PG Borrower LLC |  | Revolver |  | 6/16/2028 |  |  | 53 |  |  |  | — |
Project Accelerate Parent LLC |  | Revolver |  | 2/24/2031 |  |  | 100 |  |  |  | — |
Propio LS, LLC |  | Revolver |  | 5/10/2030 |  |  | 200 |  |  |  | (1 | )
Psc Parent, Inc. |  | Delayed Draw Term Loan |  | 4/3/2026 |  |  | 208 |  |  |  | — |
Psc Parent, Inc. |  | Revolver |  | 4/3/2030 |  |  | 191 |  |  |  | — |
Puma Buyer, LLC |  | Revolver |  | 3/29/2032 |  |  | 1,313 |  |  |  | — |
Quality Automotive Services, LLC |  | Delayed Draw Term Loan |  | 1/30/2027 |  |  | 282 |  |  |  | (1 | )
Quality Automotive Services, LLC |  | Delayed Draw Term Loan |  | 7/16/2027 |  |  | 2,000 |  |  |  | (10 | )
Quality Automotive Services, LLC |  | Revolver |  | 7/16/2027 |  |  | 257 |  |  |  | (1 | )
Quick Quack Car Wash Holdings, LLC |  | Delayed Draw Term Loan |  | 6/12/2027 |  |  | 4,134 |  |  |  | (15 | )
Raven Acquisition Holdings, LLC |  | Delayed Draw Term Loan |  | 11/19/2026 |  |  | 333 |  |  |  | — |
Red Fox CD Acquisition Corporation |  | Delayed Draw Term Loan |  | 11/23/2026 |  |  | 2,142 |  |  |  | (11 | )
Resonetics, LLC |  | Revolver |  | 6/18/2029 |  |  | 100 |  |  |  | — |
RFI Buyer, Inc. |  | Delayed Draw Term Loan |  | 8/29/2027 |  |  | 2,601 |  |  |  | (13 | )
RFI Buyer, Inc. |  | Revolver |  | 8/5/2030 |  |  | 600 |  |  |  | (3 | )
Ridge Trail US Bidco, Inc. |  | Delayed Draw Term Loan |  | 3/31/2027 |  |  | 2,995 |  |  |  | (22 | )
Ridge Trail US Bidco, Inc. |  | Revolver |  | 3/31/2031 |  |  | 729 |  |  |  | (5 | )
Rimkus Consulting Group, Inc. |  | Delayed Draw Term Loan |  | 4/1/2026 |  |  | 1,771 |  |  |  | (53 | )
Rimkus Consulting Group, Inc. |  | Revolver |  | 4/1/2030 |  |  | 901 |  |  |  | (27 | )
Riser Interco, LLC |  | Delayed Draw Term Loan |  | 4/16/2027 |  |  | 1,493 |  |  |  | — |
Riser Interco, LLC |  | Revolver |  | 10/31/2029 |  |  | 464 |  |  |  | — |
Routeware, Inc. |  | Delayed Draw Term Loan |  | 9/19/2026 |  |  | 1,386 |  |  |  | — |
Routeware, Inc. |  | Revolver |  | 9/18/2031 |  |  | 273 |  |  |  | — |
Ruppert Landscape, LLC |  | Delayed Draw Term Loan |  | 4/30/2026 |  |  | 4,054 |  |  |  | (19 | )
Ruppert Landscape, LLC |  | Revolver |  | 12/3/2029 |  |  | 627 |  |  |  | (3 | )
RxSense Holdings LLC |  | Revolver |  | 3/12/2027 |  |  | 619 |  |  |  | — |
Ryan, LLC |  | Revolver |  | 11/14/2028 |  |  | 51 |  |  |  | — |
Safety Borrower Holdings LLC |  | Revolver |  | 9/1/2027 |  |  | 337 |  |  |  | (1 | )
Sako and Partners Lower Holdings LLC |  | Revolver |  | 9/15/2028 |  |  | 1,091 |  |  |  | (5 | )
Saturn Borrower Inc |  | Delayed Draw Term Loan |  | 1/24/2027 |  |  | 1,422 |  |  |  | (4 | )
Saturn Borrower Inc |  | Revolver |  | 11/13/2028 |  |  | 486 |  |  |  | (1 | )
SCW Holdings III Corp. |  | Delayed Draw Term Loan |  | 3/18/2027 |  |  | 977 |  |  |  | — |
SCW Holdings III Corp. |  | Revolver |  | 3/17/2031 |  |  | 872 |  |  |  | — |
Seahawk Bidco, LLC |  | Delayed Draw Term Loan |  | 12/19/2026 |  |  | 671 |  |  |  | — |
Seahawk Bidco, LLC |  | Revolver |  | 12/19/2030 |  |  | 545 |  |  |  | — |
Service Logic Acquisition, Inc. |  | Revolver |  | 10/30/2025 |  |  | 100 |  |  |  | — |
Simplicity Financial Marketing Group Holdings, Inc. |  | Delayed Draw Term Loan |  | 12/31/2026 |  |  | 1,268 |  |  |  | (6 | )

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
Simplicity Financial Marketing Group Holdings, Inc. |  | Revolver |  | 12/31/2031 |  | $ | 902 |  |  | $ | (5 | )
Soleo Holdings, Inc. |  | Delayed Draw Term Loan |  | 2/2/2027 |  |  | 704 |  |  |  | — |
Soleo Holdings, Inc. |  | Revolver |  | 1/30/2032 |  |  | 704 |  |  |  | — |
Southpaw Ap Buyer, LLC |  | Delayed Draw Term Loan |  | 5/1/2026 |  |  | 55 |  |  |  | — |
Southpaw Ap Buyer, LLC |  | Revolver |  | 3/2/2028 |  |  | 195 |  |  |  | — |
Spartan Bidco PTY LTD |  | Revolver |  | 1/24/2028 |  |  | 385 |  |  |  | — |
Specialtycare, Inc. |  | Delayed Draw Term Loan |  | 8/27/2027 |  |  | 1,353 |  |  |  | (7 | )
Specialtycare, Inc. |  | Revolver |  | 12/18/2029 |  |  | 188 |  |  |  | (1 | )
Spirit RR Holdings, Inc. |  | Revolver |  | 9/13/2028 |  |  | 272 |  |  |  | (1 | )
St Athena Global LLC |  | Delayed Draw Term Loan |  | 6/26/2026 |  |  | 213 |  |  |  | (2 | )
St Athena Global LLC |  | Revolver |  | 6/26/2029 |  |  | 448 |  |  |  | (4 | )
STCH Acquisition Inc. |  | Revolver |  | 10/30/2026 |  |  | 196 |  |  |  | — |
Storable, Inc. |  | Revolver |  | 4/16/2029 |  |  | 100 |  |  |  | — |
Sugar Ppc Buyer LLC |  | Delayed Draw Term Loan |  | 7/10/2026 |  |  | 4,760 |  |  |  | (23 | )
SurfacePrep Buyer, LLC |  | Delayed Draw Term Loan |  | 1/15/2027 |  |  | 737 |  |  |  | (7 | )
Surfaceprep Buyer, LLC |  | Revolver |  | 2/4/2030 |  |  | 317 |  |  |  | (3 | )
Swoop Intermediate III, Inc. |  | Delayed Draw Term Loan |  | 10/12/2027 |  |  | 3,643 |  |  |  | (9 | )
Swoop Intermediate III, Inc. |  | Revolver |  | 4/12/2032 |  |  | 1,214 |  |  |  | (3 | )
Team Acquisition Corporation |  | Revolver |  | 11/21/2028 |  |  | 89 |  |  |  | (2 | )
Tersera Therapeutics, LLC |  | Revolver |  | 4/4/2029 |  |  | 116 |  |  |  | — |
The Chartis Group, LLC |  | Delayed Draw Term Loan |  | 9/17/2026 |  |  | 388 |  |  |  | (2 | )
The Chartis Group, LLC |  | Revolver |  | 9/17/2031 |  |  | 194 |  |  |  | (1 | )
The Hiller Companies, LLC |  | Delayed Draw Term Loan |  | 6/22/2026 |  |  | 141 |  |  |  | — |
The Hiller Companies, LLC |  | Delayed Draw Term Loan |  | 7/17/2027 |  |  | 708 |  |  |  | (4 | )
The Hiller Companies, LLC |  | Revolver |  | 6/20/2030 |  |  | 1,299 |  |  |  | — |
The Ultimus Group Midco, LLC |  | Delayed Draw Term Loan |  | 1/1/2028 |  |  | 1,356 |  |  |  | — |
The Ultimus Group Midco, LLC |  | Revolver |  | 7/1/2032 |  |  | 509 |  |  |  | — |
THG Acquisition, LLC |  | Delayed Draw Term Loan |  | 10/30/2026 |  |  | 553 |  |  |  | — |
THG Acquisition, LLC |  | Revolver |  | 10/31/2031 |  |  | 306 |  |  |  | — |
TPC Engineering Holdings, Inc. |  | Revolver |  | 2/16/2027 |  |  | 264 |  |  |  | — |
Trilon Group, LLC |  | Delayed Draw Term Loan |  | 3/13/2027 |  |  | 1,436 |  |  |  | (11 | )
Trilon Group, LLC |  | Revolver |  | 5/29/2029 |  |  | 1,212 |  |  |  | (10 | )
Trimech Acquisition Corp. |  | Revolver |  | 3/10/2028 |  |  | 1,457 |  |  |  | (7 | )
Truck-Lite Co., LLC |  | Delayed Draw Term Loan |  | 2/13/2026 |  |  | 993 |  |  |  | (4 | )
Truck-Lite Co., LLC |  | Delayed Draw Term Loan |  | 12/17/2026 |  |  | 1,130 |  |  |  | (4 | )
Truck-Lite Co., LLC |  | Revolver |  | 2/13/2031 |  |  | 176 |  |  |  | (1 | )
Trunk Acquisition, Inc. |  | Delayed Draw Term Loan |  | 12/20/2026 |  |  | 275 |  |  |  | — |
Unlimited Technology Holdings, LLC |  | Revolver |  | 3/12/2032 |  |  | 747 |  |  |  | (2 | )
US Fitness Holdings, LLC |  | Delayed Draw Term Loan |  | 9/4/2026 |  |  | 1,764 |  |  |  | — |
US Fitness Holdings, LLC |  | Revolver |  | 9/4/2030 |  |  | 172 |  |  |  | — |
USHV Management, LLC |  | Delayed Draw Term Loan |  | 9/9/2027 |  |  | 1,016 |  |  |  | (5 | )
USHV Management, LLC |  | Revolver |  | 9/8/2031 |  |  | 549 |  |  |  | (3 | )
USRP Holdings, Inc. |  | Delayed Draw Term Loan |  | 8/28/2026 |  |  | 1,543 |  |  |  | — |
USRP Holdings, Inc. |  | Revolver |  | 12/31/2029 |  |  | 900 |  |  |  | — |
Vaco Holdings, LLC |  | Revolver |  | 1/21/2027 |  |  | 100 |  |  |  | (14 | )
Valet Waste Holdings, Inc. |  | Delayed Draw Term Loan |  | 3/8/2026 |  |  | 7,213 |  |  |  | — |

43

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

September 30, 2025

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
Valicor PPC Intermediate II LLC |  | Revolver |  | 1/24/2028 |  | $ | 624 |  |  | $ | (4 | )
Validity, Inc. |  | Revolver |  | 4/10/2030 |  |  | 392 |  |  |  | — |
Vamos Bidco, Inc |  | Delayed Draw Term Loan |  | 1/30/2027 |  |  | 1,105 |  |  |  | — |
Vamos Bidco, Inc |  | Revolver |  | 1/30/2032 |  |  | 221 |  |  |  | — |
Vensure Employer Services, Inc. |  | Delayed Draw Term Loan |  | 9/27/2026 |  |  | 164 |  |  |  | (1 | )
Vertex Service Partners, LLC |  | Delayed Draw Term Loan |  | 10/2/2026 |  |  | 201 |  |  |  | (7 | )
Vessco Midco Holdings, LLC |  | Delayed Draw Term Loan |  | 7/24/2026 |  |  | 756 |  |  |  | — |
Vessco Midco Holdings, LLC |  | Revolver |  | 7/24/2031 |  |  | 552 |  |  |  | — |
Victors Purchaser, LLC |  | Delayed Draw Term Loan |  | 8/15/2026 |  |  | 1,718 |  |  |  | — |
Victors Purchaser, LLC |  | Revolver |  | 8/15/2031 |  |  | 1,254 |  |  |  | — |
Victory Buyer LLC |  | Revolver |  | 11/19/2028 |  |  | 43 |  |  |  | — |
Vital Care Buyer, LLC |  | Revolver |  | 7/30/2031 |  |  | 696 |  |  |  | (3 | )
VPP Intermediate Holdings, LLC |  | Delayed Draw Term Loan |  | 1/19/2027 |  |  | 2,584 |  |  |  | (19 | )
VPP Intermediate Holdings, LLC |  | Revolver |  | 12/1/2027 |  |  | 228 |  |  |  | (1 | )
VRS Buyer, Inc. |  | Delayed Draw Term Loan |  | 7/18/2027 |  |  | 1,908 |  |  |  | — |
VRS Buyer, Inc. |  | Revolver |  | 7/19/2032 |  |  | 1,272 |  |  |  | — |
VS Buyer, LLC |  | Revolver |  | 4/12/2029 |  |  | 100 |  |  |  | — |
WST USA Holdco, Inc. |  | Delayed Draw Term Loan |  | 12/30/2025 |  |  | 373 |  |  |  | (1 | )
Wealth Enhancement Group, LLC |  | Delayed Draw Term Loan |  | 12/30/2026 |  |  | 10,585 |  |  |  | (25 | )
Wealth Enhancement Group, LLC |  | Revolver |  | 10/2/2028 |  |  | 323 |  |  |  | (1 | )
Wildcat Topco, Inc. |  | Delayed Draw Term Loan |  | 11/16/2026 |  |  | 270 |  |  |  | (1 | )
Wildcat Topco, Inc. |  | Revolver |  | 11/17/2031 |  |  | 263 |  |  |  | (1 | )
Wisdom Purchaser, LLC |  | Revolver |  | 7/24/2032 |  |  | 636 |  |  |  | (2 | )
World Insurance Associates, LLC |  | Delayed Draw Term Loan |  | 8/14/2026 |  |  | 2,249 |  |  |  | (6 | )
World Insurance Associates, LLC |  | Revolver |  | 4/3/2030 |  |  | 209 |  |  |  | (1 | )
WPP Bullet Buyer, LLC |  | Revolver |  | 12/7/2029 |  |  | 83 |  |  |  | (1 | )
WRE Holding Corp. |  | Revolver |  | 7/2/2030 |  |  | 316 |  |  |  | (2 | )
Wu Holdco, Inc. |  | Delayed Draw Term Loan |  | 4/16/2027 |  |  | 2,497 |  |  |  | (6 | )
Wu Holdco, Inc. |  | Revolver |  | 4/19/2032 |  |  | 777 |  |  |  | (2 | )
YA Intermediate Holdings II, LLC |  | Delayed Draw Term Loan |  | 10/2/2026 |  |  | 2,018 |  |  |  | — |
YA Intermediate Holdings II, LLC |  | Revolver |  | 10/1/2031 |  |  | 984 |  |  |  | — |
YLG Holdings, Inc. |  | Delayed Draw Term Loan |  | 11/26/2026 |  |  | 560 |  |  |  | (4 | )
YLG Holdings, Inc. |  | Revolver |  | 12/23/2030 |  |  | 1,141 |  |  |  | (9 | )
Zelis Cost Management Buyer, Inc. |  | Revolver |  | 1/17/2029 |  |  | 100 |  |  |  | — |
Zinc Buyer Corporation |  | Delayed Draw Term Loan |  | 7/24/2026 |  |  | 830 |  |  |  | — |
Zinc Buyer Corporation |  | Revolver |  | 7/24/2031 |  |  | 790 |  |  |  | — |
Zone Climate Services, Inc. |  | Delayed Draw Term Loan |  | 11/22/2025 |  |  | 2,780 |  |  |  | (7 | )
Zone Climate Services, Inc. |  | Revolver |  | 3/9/2028 |  |  | 334 |  |  |  | (3 | )
Total Unfunded Commitments |  |  |  |  |  | $ | 368,519 |  |  | $ | (1,115 | )

(1)
Foreign domiciled investments have been converted to U.S. Dollars based on prevailing rates at period-end.

See accompanying notes to the consolidated financial statements.

44

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Investments - non-controlled/non-affiliated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured Debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerospace and Defense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bleriot US Bidco Inc. | (5)(8) |  | First Lien Term Loan |  | S + 2.75% |  | 0.00% |  | 7.06% |  | 10/31/2030 |  | $ | 1,675 |  |  | $ | 1,675 |  |  | $ | 1,686 |  |  |  | 0.26 |  | %
GSP Holdings, LLC | (6)(8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.96% |  | 11/6/2026 |  |  | 100 |  |  |  | 100 |  |  |  | 99 |  |  |  | 0.02 |  |
TransDigm Inc. | (5)(6)(8) |  | First Lien Term Loan |  | S + 2.75% |  | 0.00% |  | 7.06% |  | 3/22/2030 |  |  | 1,895 |  |  |  | 1,905 |  |  |  | 1,903 |  |  |  | 0.30 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,680 |  |  |  | 3,688 |  |  |  | 0.58 |  |
Air Freight and Logistics |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lightbeam Bidco Inc | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 5/4/2030 |  |  | 4,951 |  |  |  | 4,951 |  |  |  | 4,951 |  |  |  | 0.78 |  |
Lightbeam Bidco Inc | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.00% |  | 9.81% |  | 5/6/2030 |  |  | 1,558 |  |  |  | 652 |  |  |  | 652 |  |  |  | 0.10 |  |
Lightbeam Bidco Inc | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.00% |  | 9.56% |  | 5/4/2029 |  |  | 491 |  |  |  | — |  |  |  | — |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,603 |  |  |  | 5,603 |  |  |  | 0.88 |  |
Automobile Components |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collision Sp Subco, LLC | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.81% |  | 1/29/2030 |  |  | 1,949 |  |  |  | 1,949 |  |  |  | 1,949 |  |  |  | 0.31 |  |
Collision Sp Subco, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.00% |  | 9.81% |  | 1/29/2030 |  |  | 1,135 |  |  |  | 571 |  |  |  | 571 |  |  |  | 0.09 |  |
Collision Sp Subco, LLC | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.00% |  | 9.81% |  | 1/29/2030 |  |  | 318 |  |  |  | 47 |  |  |  | 47 |  |  |  | 0.01 |  |
Enthusiast Auto Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.08% |  | 12/19/2026 |  |  | 5,921 |  |  |  | 5,921 |  |  |  | 5,921 |  |  |  | 0.93 |  |
Enthusiast Auto Holdings, LLC | (7) |  | First Lien Revolver |  | S + 4.75% |  | 1.00% |  | 9.08% |  | 12/19/2025 |  |  | 64 |  |  |  | — |  |  |  | — |  |  |  | — |  |
JHCC Holdings LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 9/9/2027 |  |  | 1,468 |  |  |  | 1,463 |  |  |  | 1,462 |  |  |  | 0.23 |  |
JHCC Holdings LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 9/9/2027 |  |  | 425 |  |  |  | 423 |  |  |  | 423 |  |  |  | 0.07 |  |
JHCC Holdings LLC | (7) |  | First Lien Revolver |  | P + 5.50% |  | 0.00% |  | 13.00% |  | 9/9/2027 |  |  | 168 |  |  |  | 83 |  |  |  | 83 |  |  |  | 0.01 |  |
Majco LLC | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.96% |  | 12/4/2028 |  |  | 199 |  |  |  | 200 |  |  |  | 199 |  |  |  | 0.03 |  |
OAC Holdings I Corp | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.43% |  | 3/30/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Power Stop, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.50% |  | 9.06% |  | 1/26/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 190 |  |  |  | 0.03 |  |
Quality Automotive Services, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 7/16/2027 |  |  | 4,694 |  |  |  | 4,671 |  |  |  | 4,670 |  |  |  | 0.73 |  |
Quality Automotive Services, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 7/16/2027 |  |  | 2,049 |  |  |  | 1,828 |  |  |  | 1,827 |  |  |  | 0.29 |  |
Quality Automotive Services, LLC | (7) |  | First Lien Revolver |  | S + 6.00% |  | 1.00% |  | 10.31% |  | 7/16/2027 |  |  | 257 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Truck-Lite Co., LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 0.75% |  | 10.06% |  | 2/13/2031 |  |  | 1,612 |  |  |  | 1,612 |  |  |  | 1,612 |  |  |  | 0.25 |  |
Truck-Lite Co., LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 0.75% |  | 10.06% |  | 2/13/2031 |  |  | 176 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Truck-Lite Co., LLC | (7) |  | First Lien Revolver |  | S + 5.75% |  | 0.75% |  | 10.06% |  | 2/13/2030 |  |  | 176 |  |  |  | — |  |  |  | — |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19,165 |  |  |  | 19,152 |  |  |  | 3.01 |  |
Building Products |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
80/20, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 3/1/2027 |  |  | 200 |  |  |  | 199 |  |  |  | 200 |  |  |  | 0.03 |  |
MDC Interior Acquisition Inc | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 4/26/2030 |  |  | 291 |  |  |  | 290 |  |  |  | 290 |  |  |  | 0.05 |  |
MDC Interior Acquisition Inc | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.00% |  | 9.56% |  | 4/26/2030 |  |  | 42 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Surewerx Purchaser III Inc | (6)(8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 12/28/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Walter Surface Technologies Inc. | (6)(8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.66% |  | 3/31/2027 |  |  | 1,725 |  |  |  | 1,725 |  |  |  | 1,725 |  |  |  | 0.27 |  |
Walter Surface Technologies Inc. | (6)(7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 3/31/2027 |  |  | 588 |  |  |  | 214 |  |  |  | 214 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,627 |  |  |  | 2,628 |  |  |  | 0.41 |  |

45

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Capital Markets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allworth Financial Group, L.P. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 12/23/2027 |  | $ | 199 |  |  | $ | 199 |  |  | $ | 199 |  |  |  | 0.03 |  | %
Arax MidCo, LLC | (6)(8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 4/11/2029 |  |  | 3,834 |  |  |  | 3,800 |  |  |  | 3,789 |  |  |  | 0.59 |  |
Arax MidCo, LLC | (6)(7) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 1.00% |  | 10.08% |  | 4/11/2029 |  |  | 710 |  |  |  | (8 | ) |  |  | (8 | ) |  |  | — |  |
Arax MidCo, LLC | (6)(7) |  | First Lien Revolver |  | S + 5.75% |  | 1.00% |  | 10.06% |  | 4/11/2029 |  |  | 431 |  |  |  | (5 | ) |  |  | (5 | ) |  |  | — |  |
Cub Financing Intermediate, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.50% |  | 9.06% |  | 6/28/2030 |  |  | 3,780 |  |  |  | 3,762 |  |  |  | 3,763 |  |  |  | 0.59 |  |
Cub Financing Intermediate, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 6/28/2030 |  |  | 1,741 |  |  |  | (8 | ) |  |  | (8 | ) |  |  | — |  |
Edgeco Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 6/1/2028 |  |  | 6,205 |  |  |  | 6,201 |  |  |  | 6,174 |  |  |  | 0.97 |  |
Edgeco Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.00% |  | 8.81% |  | 6/1/2028 |  |  | 1,149 |  |  |  | 1,143 |  |  |  | 1,143 |  |  |  | 0.18 |  |
Edgeco Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 6/1/2028 |  |  | 119 |  |  |  | 119 |  |  |  | 118 |  |  |  | 0.02 |  |
Edgeco Buyer, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 0.00% |  | 8.81% |  | 6/1/2028 |  |  | 2,771 |  |  |  | (7 | ) |  |  | (14 | ) |  |  | — |  |
Edgeco Buyer, Inc. | (8) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 6/1/2028 |  |  | 101 |  |  |  | 101 |  |  |  | 101 |  |  |  | 0.02 |  |
Edgeco Buyer, Inc. | (8) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 6/1/2028 |  |  | 544 |  |  |  | 544 |  |  |  | 541 |  |  |  | 0.08 |  |
Edgeco Buyer, Inc. | (8) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 6/1/2028 |  |  | 240 |  |  |  | 240 |  |  |  | 238 |  |  |  | 0.04 |  |
Edgeco Buyer, Inc. |  |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 0.00% |  | 8.81% |  | 6/1/2026 |  |  | 484 |  |  |  | 484 |  |  |  | 482 |  |  |  | 0.08 |  |
Edgeco Buyer, Inc. | (7) |  | First Lien Revolver |  | S + 4.50% |  | 0.00% |  | 8.81% |  | 6/1/2028 |  |  | 304 |  |  |  | (1 | ) |  |  | (2 | ) |  |  | — |  |
HighTower Holding, LLC | (7) |  | First Lien Revolver |  | S + 3.75% |  | 0.00% |  | 8.08% |  | 10/21/2027 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Lido Advisors, LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 6/15/2029 |  |  | 199 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
The Ultimus Group Midco, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.66% |  | 3/7/2031 |  |  | 8,665 |  |  |  | 8,665 |  |  |  | 8,665 |  |  |  | 1.36 |  |
The Ultimus Group Midco, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.66% |  | 3/7/2031 |  |  | 1,302 |  |  |  | — |  |  |  | — |  |  |  | — |  |
The Ultimus Group Midco, LLC | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.75% |  | 9.66% |  | 3/7/2030 |  |  | 868 |  |  |  | — |  |  |  | — |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 25,427 |  |  |  | 25,374 |  |  |  | 3.99 |  |
Chemicals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aurora Plastics, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.18% |  | 8/10/2028 |  |  | 7,684 |  |  |  | 7,674 |  |  |  | 7,647 |  |  |  | 1.20 |  |
Aurora Plastics, LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.75% |  | 9.18% |  | 8/10/2028 |  |  | 1,420 |  |  |  | 1,420 |  |  |  | 1,413 |  |  |  | 0.22 |  |
Aurorium Global Holdings LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 0.75% |  | 10.21% |  | 12/22/2027 |  |  | 100 |  |  |  | 99 |  |  |  | 98 |  |  |  | 0.01 |  |
Boulder Scientific Company, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.21% |  | 12/31/2027 |  |  | 100 |  |  |  | 99 |  |  |  | 100 |  |  |  | 0.02 |  |
Charkit Chemical Company, LLC | (8) |  | First Lien Term Loan |  | S + 4.88% |  | 1.00% |  | 9.31% |  | 12/29/2026 |  |  | 100 |  |  |  | 99 |  |  |  | 99 |  |  |  | 0.02 |  |
DCG Acquisition Corp. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 8.83% |  | 6/13/2031 |  |  | 6,991 |  |  |  | 6,991 |  |  |  | 6,991 |  |  |  | 1.10 |  |
DCG Acquisition Corp. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 6/13/2031 |  |  | 1,169 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Formulations Parent Corporation | (7) |  | First Lien Revolver |  | S + 5.75% |  | 0.00% |  | 10.08% |  | 11/15/2029 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Hasa Acquisition, LLC | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 1/10/2029 |  |  | 200 |  |  |  | 200 |  |  |  | 199 |  |  |  | 0.03 |  |
Highline Aftermarket Acquisition, LLC | (7) |  | First Lien Revolver |  | S + 3.75% |  | 0.00% |  | 8.08% |  | 8/10/2027 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
LTI Holdings, Inc. | (5)(8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.00% |  | 9.08% |  | 7/29/2029 |  |  | 1,995 |  |  |  | 2,005 |  |  |  | 2,001 |  |  |  | 0.31 |  |
Lubricant Engineers | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.08% |  | 9/1/2029 |  |  | 199 |  |  |  | 200 |  |  |  | 197 |  |  |  | 0.03 |  |
Potters Industries LLC | (7) |  | First Lien Revolver |  | S + 3.75% |  | 0.00% |  | 8.08% |  | 9/14/2027 |  |  | 100 |  |  |  | 6 |  |  |  | 6 |  |  |  | — |  |
Rocket Bidco, Inc. | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 0.00% |  | 10.08% |  | 11/1/2030 |  |  | 199 |  |  |  | 144 |  |  |  | 139 |  |  |  | 0.02 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,937 |  |  |  | 18,890 |  |  |  | 2.96 |  |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Commercial Services and Supplies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ares Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.00% |  | 9.31% |  | 11/18/2027 |  | $ | 3,174 |  |  | $ | 3,158 |  |  | $ | 3,160 |  |  |  | 0.50 |  | %
AWP Group Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.00% |  | 9.08% |  | 12/23/2030 |  |  | 14,359 |  |  |  | 14,288 |  |  |  | 14,323 |  |  |  | 2.25 |  |
AWP Group Holdings, Inc. | (7) |  | First Lien Revolver |  | S + 4.75% |  | 1.00% |  | 9.08% |  | 12/23/2030 |  |  | 320 |  |  |  | 14 |  |  |  | 15 |  |  |  | — |  |
CoolSys, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.32% |  | 8/11/2028 |  |  | 199 |  |  |  | 197 |  |  |  | 195 |  |  |  | 0.03 |  |
Denali Buyerco LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.71% |  | 9/15/2028 |  |  | 4,824 |  |  |  | 4,824 |  |  |  | 4,804 |  |  |  | 0.75 |  |
Denali Buyerco LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.00% |  | 9.71% |  | 9/15/2028 |  |  | 7,572 |  |  |  | 6,442 |  |  |  | 6,409 |  |  |  | 1.01 |  |
Ext Acquisitions, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.46% |  | 6/26/2026 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
FL Hawk Intermediate Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 2/22/2030 |  |  | 502 |  |  |  | 499 |  |  |  | 499 |  |  |  | 0.08 |  |
FL Hawk Intermediate Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 2/22/2030 |  |  | 466 |  |  |  | 464 |  |  |  | 464 |  |  |  | 0.07 |  |
Fresh Holdco, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.75% |  | 1/24/2026 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
HeartLand PPC Buyer, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 12/12/2029 |  |  | 5,822 |  |  |  | 5,756 |  |  |  | 5,808 |  |  |  | 0.91 |  |
HeartLand PPC Buyer, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 12/12/2029 |  |  | 865 |  |  |  | 527 |  |  |  | 534 |  |  |  | 0.08 |  |
HeartLand PPC Buyer, LLC | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 12/12/2029 |  |  | 297 |  |  |  | 29 |  |  |  | 32 |  |  |  | 0.01 |  |
Hercules Borrower LLC | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.91% |  | 12/14/2026 |  |  | 3,216 |  |  |  | 3,188 |  |  |  | 3,216 |  |  |  | 0.50 |  |
Hercules Borrower LLC | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.91% |  | 12/14/2026 |  |  | 46 |  |  |  | 45 |  |  |  | 46 |  |  |  | 0.01 |  |
Hercules Borrower LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 1.00% |  | 9.91% |  | 12/14/2026 |  |  | 270 |  |  |  | 268 |  |  |  | 270 |  |  |  | 0.04 |  |
Hercules Borrower LLC | (7) |  | First Lien Revolver |  | S + 6.25% |  | 1.00% |  | 10.66% |  | 12/14/2026 |  |  | 459 |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |
High Bar Brands Operating, LLC | (6)(8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 12/19/2029 |  |  | 199 |  |  |  | 198 |  |  |  | 199 |  |  |  | 0.03 |  |
HP RSS Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 12/11/2029 |  |  | 1,604 |  |  |  | 1,589 |  |  |  | 1,592 |  |  |  | 0.25 |  |
HP RSS Buyer, Inc. |  |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.00% |  | 9.31% |  | 12/11/2029 |  |  | 851 |  |  |  | 842 |  |  |  | 844 |  |  |  | 0.13 |  |
HP RSS Buyer, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 12/11/2029 |  |  | 3,496 |  |  |  | 893 |  |  |  | 902 |  |  |  | 0.14 |  |
Liquid Environmental Solutions Corporation | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.41% |  | 5/31/2026 |  |  | 100 |  |  |  | 99 |  |  |  | 99 |  |  |  | 0.02 |  |
Monarch Landscape Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 10/2/2028 |  |  | 200 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Onyx-Fire Protection Services Inc. | (6)(8) |  | First Lien Term Loan |  | C + 4.50% |  | 0.00% |  | 7.75% |  | 7/31/2031 |  |  | CAD 8,646 |  |  |  | 6,218 |  |  |  | 5,981 |  |  |  | 0.94 |  |
Onyx-Fire Protection Services Inc. | (6)(7) |  | First Lien Delayed Draw Term Loan |  | C + 4.50% |  | 0.00% |  | 7.75% |  | 7/31/2031 |  |  | CAD 1,361 |  |  |  | (5 | ) |  |  | (5 | ) |  |  | — |  |
Onyx-Fire Protection Services Inc. | (6)(7) |  | First Lien Revolver |  | C + 4.50% |  | 0.75% |  | 7.75% |  | 7/31/2031 |  |  | CAD 2,149 |  |  |  | (7 | ) |  |  | (7 | ) |  |  | — |  |
Palmetto Acquisitionco Inc | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.06% |  | 9/18/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Pavion Corp. | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 0.75% |  | 10.06% |  | 10/30/2030 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Service Logic Acquisition, Inc. | (7) |  | First Lien Revolver |  | S + 4.00% |  | 0.00% |  | 8.33% |  | 10/30/2025 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
The Hiller Companies, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 6/20/2030 |  |  | 7,450 |  |  |  | 7,414 |  |  |  | 7,432 |  |  |  | 1.17 |  |
The Hiller Companies, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.00% |  | 9.33% |  | 6/20/2030 |  |  | 2,055 |  |  |  | 507 |  |  |  | 512 |  |  |  | 0.08 |  |
The Hiller Companies, LLC | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 6/20/2030 |  |  | 1,299 |  |  |  | (6 | ) |  |  | (3 | ) |  |  | — |  |

47

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Commercial Services and Supplies (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Thermostat Purchaser III, Inc. | (8) |  | First Lien Term Loan |  | S + 4.25% |  | 0.75% |  | 8.56% |  | 8/31/2028 |  | $ | 199 |  |  | $ | 199 |  |  | $ | 199 |  |  |  | 0.03 |  | %
Valet Waste Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.08% |  | 5/1/2029 |  |  | 5,224 |  |  |  | 5,172 |  |  |  | 5,224 |  |  |  | 0.82 |  |
Valet Waste Holdings, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 1.00% |  | 10.08% |  | 5/1/2029 |  |  | 7,213 |  |  |  | (70 | ) |  |  | — |  |  |  | — |  |
WRE Holding Corp. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.25% |  | 7/2/2031 |  |  | 2,310 |  |  |  | 2,299 |  |  |  | 2,298 |  |  |  | 0.36 |  |
WRE Holding Corp. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.00% |  | 9.25% |  | 7/2/2031 |  |  | 592 |  |  |  | 175 |  |  |  | 175 |  |  |  | 0.03 |  |
WRE Holding Corp. | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.00% |  | 9.25% |  | 7/2/2030 |  |  | 316 |  |  |  | (1 | ) |  |  | (2 | ) |  |  | — |  |
YLG Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 12/23/2030 |  |  | 9,407 |  |  |  | 9,377 |  |  |  | 9,362 |  |  |  | 1.47 |  |
YLG Holdings, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 10/30/2026 |  |  | 1,379 |  |  |  | 603 |  |  |  | 600 |  |  |  | 0.09 |  |
YLG Holdings, Inc. | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 10/30/2026 |  |  | 1,214 |  |  |  | (2 | ) |  |  | (6 | ) |  |  | — |  |
Zinc Buyer Corporation |  |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 7/24/2031 |  |  | 6,397 |  |  |  | 6,358 |  |  |  | 6,349 |  |  |  | 1.00 |  |
Zinc Buyer Corporation | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 7/24/2031 |  |  | 1,613 |  |  |  | (11 | ) |  |  | (12 | ) |  |  | — |  |
Zinc Buyer Corporation | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 7/24/2031 |  |  | 790 |  |  |  | (6 | ) |  |  | (6 | ) |  |  | — |  |
Zone Climate Services, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 6.00% |  | 1.00% |  | 10.33% |  | 3/9/2028 |  |  | 3,182 |  |  |  | (39 | ) |  |  | (38 | ) |  |  | (0.01 | ) |
Zone Climate Services, Inc. | (7) |  | First Lien Revolver |  | S + 5.75% |  | 1.00% |  | 10.21% |  | 3/9/2028 |  |  | 636 |  |  |  | 306 |  |  |  | 306 |  |  |  | 0.05 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 82,791 |  |  |  | 82,764 |  |  |  | 12.99 |  |
Construction & Engineering |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CLS Management Services, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 3/27/2030 |  |  | 199 |  |  |  | 198 |  |  |  | 199 |  |  |  | 0.03 |  |
FR Vision Holdings Inc | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 1/20/2031 |  |  | 3,048 |  |  |  | 3,048 |  |  |  | 3,048 |  |  |  | 0.48 |  |
FR Vision Holdings Inc | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.00% |  | 9.81% |  | 1/20/2031 |  |  | 988 |  |  |  | 416 |  |  |  | 416 |  |  |  | 0.07 |  |
FR Vision Holdings Inc | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.00% |  | 9.81% |  | 1/20/2030 |  |  | 248 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Hydraulic Technologies USA LLC | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.81% |  | 6/3/2031 |  |  | 836 |  |  |  | 822 |  |  |  | 826 |  |  |  | 0.13 |  |
Hydraulic Technologies USA LLC | (7) |  | First Lien Revolver |  | S + 5.50% |  | 1.00% |  | 9.81% |  | 6/3/2030 |  |  | 114 |  |  |  | 14 |  |  |  | 15 |  |  |  | — |  |
Kleinfelder Intermediate LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 9/18/2030 |  |  | 199 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Mei Buyer LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 6/29/2029 |  |  | 199 |  |  |  | 200 |  |  |  | 199 |  |  |  | 0.03 |  |
Trilon Group, LLC | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.96% |  | 5/29/2029 |  |  | 1,203 |  |  |  | 1,195 |  |  |  | 1,196 |  |  |  | 0.19 |  |
Trilon Group, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 1.00% |  | 9.96% |  | 5/25/2029 |  |  | 4,041 |  |  |  | 847 |  |  |  | 848 |  |  |  | 0.13 |  |
Trilon Group, LLC | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.00% |  | 9.96% |  | 5/25/2029 |  |  | 1,212 |  |  |  | 143 |  |  |  | 144 |  |  |  | 0.02 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,083 |  |  |  | 7,091 |  |  |  | 1.11 |  |
Construction Materials |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Arrow Tru-Line Holding, LLC | (8) |  | First Lien Term Loan |  | S + 5.63% |  | 1.00% |  | 10.08% |  | 9/20/2027 |  |  | 200 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Pearlman Enterprises Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.93% |  | 5/5/2027 |  |  | 200 |  |  |  | 196 |  |  |  | 198 |  |  |  | 0.03 |  |
Red Fox CD Acquisition Corporation | (7) |  | First Lien Delayed Draw Term Loan |  | S + 6.00% |  | 0.00% |  | 10.31% |  | 3/4/2030 |  |  | 10,735 |  |  |  | 6,639 |  |  |  | 6,692 |  |  |  | 1.05 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,034 |  |  |  | 7,089 |  |  |  | 1.11 |  |
Containers and Packaging |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Anchor Packaging, LLC | (7) |  | First Lien Revolver |  | S + 3.75% |  | 0.00% |  | 8.08% |  | 4/17/2029 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
CFs Brands, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 10/2/2030 |  |  | 3,330 |  |  |  | 3,330 |  |  |  | 3,296 |  |  |  | 0.52 |  |
CFs Brands, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 6.00% |  | 1.00% |  | 10.33% |  | 10/2/2030 |  |  | 169 |  |  |  | — |  |  |  | (2 | ) |  |  | — |  |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Containers and Packaging (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CFs Brands, LLC | (7) |  | First Lien Revolver |  | S + 5.75% |  | 1.00% |  | 10.08% |  | 10/2/2029 |  | $ | 493 |  |  | $ | — |  |  | $ | (5 | ) |  |  | — |  | %
Cold Chain Technologies, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.06% |  | 7/2/2026 |  |  | 2,307 |  |  |  | 2,307 |  |  |  | 2,302 |  |  |  | 0.36 |  |
Cold Chain Technologies, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 0.00% |  | 10.06% |  | 7/2/2026 |  |  | 4,155 |  |  |  | 4,155 |  |  |  | 4,145 |  |  |  | 0.65 |  |
Cold Chain Technologies, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.06% |  | 7/2/2026 |  |  | 2,500 |  |  |  | 2,494 |  |  |  | 2,495 |  |  |  | 0.39 |  |
Cold Chain Technologies, LLC | (7) |  | First Lien Revolver |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 7/2/2026 |  |  | 522 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Nelipak Holding Company | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.83% |  | 3/26/2031 |  |  | 6,408 |  |  |  | 6,408 |  |  |  | 6,312 |  |  |  | 0.99 |  |
Nelipak Holding Company | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 1.00% |  | 9.83% |  | 3/26/2031 |  |  | 2,486 |  |  |  | — |  |  |  | (37 | ) |  |  | (0.01 | ) |
Nelipak Holding Company | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.00% |  | 9.83% |  | 3/26/2031 |  |  | 1,855 |  |  |  | 779 |  |  |  | 751 |  |  |  | 0.12 |  |
Packaging Coordinators Midco, Inc. | (7) |  | First Lien Revolver |  | S + 3.75% |  | 0.00% |  | 8.08% |  | 8/31/2027 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
PG Buyer, LLC | (8) |  | First Lien Term Loan |  | S + 4.25% |  | 1.00% |  | 8.50% |  | 3/2/2026 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
PLZ Corp. | (8) |  | First Lien Term Loan |  | S + 3.75% |  | 0.75% |  | 8.20% |  | 8/3/2026 |  |  | 100 |  |  |  | 94 |  |  |  | 91 |  |  |  | 0.01 |  |
Proampac PG Borrower LLC | (7) |  | First Lien Revolver |  | S + 2.75% |  | 0.00% |  | 7.08% |  | 6/16/2028 |  |  | 100 |  |  |  | 12 |  |  |  | 11 |  |  |  | — |  |
Rohrer Corporation | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.50% |  | 3/15/2027 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
St Athena Global LLC | (6)(8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 6/26/2030 |  |  | 3,938 |  |  |  | 3,900 |  |  |  | 3,889 |  |  |  | 0.61 |  |
St Athena Global LLC | (6)(8) |  | First Lien Term Loan |  | SON + 5.25% |  | 0.00% |  | 9.95% |  | 6/26/2030 |  |  | GBP 2,291 |  |  |  | 2,958 |  |  |  | 2,832 |  |  |  | 0.44 |  |
St Athena Global LLC | (6)(7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.00% |  | 9.56% |  | 6/26/2030 |  |  | 164 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
St Athena Global LLC | (6)(7) |  | First Lien Revolver |  | S + 5.25% |  | 0.00% |  | 9.56% |  | 6/26/2029 |  |  | 590 |  |  |  | 137 |  |  |  | 135 |  |  |  | 0.02 |  |
Tank Holding Corp. | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 0.75% |  | 10.25% |  | 3/31/2028 |  |  | 199 |  |  |  | 197 |  |  |  | 196 |  |  |  | 0.03 |  |
Tricorbraun Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 3.25% |  | 0.50% |  | 7.70% |  | 3/3/2028 |  |  | 100 |  |  |  | 98 |  |  |  | 100 |  |  |  | 0.02 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 27,265 |  |  |  | 26,907 |  |  |  | 4.21 |  |
Distributors |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aurora Parts & Accessories LLC | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.96% |  | 1/13/2029 |  |  | 100 |  |  |  | 99 |  |  |  | 99 |  |  |  | 0.02 |  |
BC Group Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 12/21/2026 |  |  | 2,171 |  |  |  | 2,151 |  |  |  | 2,155 |  |  |  | 0.34 |  |
BC Group Holdings, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 12/21/2026 |  |  | 6,746 |  |  |  | 790 |  |  |  | 802 |  |  |  | 0.13 |  |
Blackbird Purchaser, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 12/19/2030 |  |  | 185 |  |  |  | 66 |  |  |  | 66 |  |  |  | 0.01 |  |
Blackbird Purchaser, Inc. | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 12/19/2029 |  |  | 124 |  |  |  | 31 |  |  |  | 31 |  |  |  | — |  |
Blackhawk Industrial Distribution, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.71% |  | 9/17/2026 |  |  | 5,352 |  |  |  | 5,330 |  |  |  | 5,330 |  |  |  | 0.84 |  |
Blackhawk Industrial Distribution, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 1.00% |  | 9.71% |  | 9/17/2026 |  |  | 607 |  |  |  | 112 |  |  |  | 112 |  |  |  | 0.02 |  |
Blackhawk Industrial Distribution, Inc. | (7) |  | First Lien Revolver |  | S + 5.25% |  | 1.00% |  | 9.71% |  | 9/17/2026 |  |  | 1,028 |  |  |  | 171 |  |  |  | 176 |  |  |  | 0.03 |  |
BradyPlus Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 10/31/2029 |  |  | 6,298 |  |  |  | 6,298 |  |  |  | 6,238 |  |  |  | 0.98 |  |
BradyPlus Holdings, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 6.00% |  | 1.00% |  | 10.31% |  | 10/31/2029 |  |  | 702 |  |  |  | 149 |  |  |  | 144 |  |  |  | 0.02 |  |
Component Hardware Group, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.46% |  | 7/1/2026 |  |  | 97 |  |  |  | 97 |  |  |  | 97 |  |  |  | 0.01 |  |
DFS Holding Company, Inc. | (8) |  | First Lien Term Loan |  | S + 6.25% |  | 1.00% |  | 10.50% |  | 1/31/2029 |  |  | 199 |  |  |  | 197 |  |  |  | 199 |  |  |  | 0.03 |  |
Vessco Midco Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 7/24/2031 |  |  | 4,970 |  |  |  | 4,946 |  |  |  | 4,945 |  |  |  | 0.78 |  |
Vessco Midco Holdings, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 7/24/2031 |  |  | 1,657 |  |  |  | 428 |  |  |  | 428 |  |  |  | 0.07 |  |
Vessco Midco Holdings, LLC | (7) |  | First Lien Revolver |  | S + 4.25% |  | 0.75% |  | 8.58% |  | 7/24/2031 |  |  | 552 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 20,862 |  |  |  | 20,819 |  |  |  | 3.28 |  |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Diversified Consumer Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Apex Service Partners, LLC |  |  | First Lien Term Loan |  | 11.59% (Incl. 2.00% PIK) |  | 1.00% |  | 11.59% (Incl. 2.00% PIK) |  | 10/24/2030 |  | $ | 4,850 |  |  | $ | 4,826 |  |  | $ | 4,827 |  |  |  | 0.76 |  | %
Apex Service Partners, LLC |  |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 10/24/2030 |  |  | 780 |  |  |  | 776 |  |  |  | 776 |  |  |  | 0.12 |  |
Apex Service Partners, LLC | (7) |  | First Lien Revolver |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 10/24/2029 |  |  | 660 |  |  |  | 445 |  |  |  | 446 |  |  |  | 0.07 |  |
Ave Holdings III, Corp |  |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.81% |  | 2/25/2028 |  |  | 6,302 |  |  |  | 6,178 |  |  |  | 6,223 |  |  |  | 0.98 |  |
Ave Holdings III, Corp |  |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.00% |  | 9.81% |  | 2/25/2028 |  |  | 168 |  |  |  | 165 |  |  |  | 166 |  |  |  | 0.03 |  |
Ave Holdings III, Corp | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 2/25/2028 |  |  | 514 |  |  |  | (10 | ) |  |  | (6 | ) |  |  | — |  |
AVG Intermediate Holdings LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 6.00% |  | 1.00% |  | 10.41% |  | 3/16/2027 |  |  | 199 |  |  |  | 195 |  |  |  | 194 |  |  |  | 0.03 |  |
Cop Hometown Acquisitions, Inc. (fka Cop Airco Acquisitions, Inc.) | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 1.00% |  | 9.71% |  | 7/16/2027 |  |  | 281 |  |  |  | 279 |  |  |  | 279 |  |  |  | 0.04 |  |
Cop Hometown Acquisitions, Inc. (fka Cop Airco Acquisitions, Inc.) | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 1.00% |  | 9.71% |  | 7/16/2027 |  |  | 2,530 |  |  |  | 2,511 |  |  |  | 2,514 |  |  |  | 0.39 |  |
Cop Hometown Acquisitions, Inc. (fka Cop Airco Acquisitions, Inc.) | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 1.00% |  | 9.71% |  | 7/16/2027 |  |  | 530 |  |  |  | 526 |  |  |  | 526 |  |  |  | 0.08 |  |
Cop Hometown Acquisitions, Inc. (fka Cop Airco Acquisitions, Inc.) | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 1.00% |  | 9.96% |  | 7/16/2027 |  |  | 659 |  |  |  | 658 |  |  |  | 658 |  |  |  | 0.10 |  |
CVP Holdco, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 6/30/2031 |  |  | 6,459 |  |  |  | 6,443 |  |  |  | 6,444 |  |  |  | 1.01 |  |
CVP Holdco, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 6/28/2031 |  |  | 1,715 |  |  |  | (4 | ) |  |  | (4 | ) |  |  | — |  |
CVP Holdco, Inc. | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 6/28/2030 |  |  | 686 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
Eos Fitness Opco Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.00% |  | 9.56% |  | 1/5/2028 |  |  | 4,531 |  |  |  | 4,497 |  |  |  | 4,520 |  |  |  | 0.71 |  |
Eos Fitness Opco Holdings, LLC |  |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.00% |  | 9.56% |  | 1/5/2028 |  |  | 2,255 |  |  |  | 2,238 |  |  |  | 2,249 |  |  |  | 0.35 |  |
Eos Fitness Opco Holdings, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.00% |  | 9.56% |  | 1/5/2028 |  |  | 929 |  |  |  | 281 |  |  |  | 286 |  |  |  | 0.04 |  |
Eos Fitness Opco Holdings, LLC | (7) |  | First Lien Revolver |  | S + 4.75% |  | 1.00% |  | 9.06% |  | 1/5/2028 |  |  | 384 |  |  |  | (3 | ) |  |  | (1 | ) |  |  | — |  |
Essential Services Holding Corporation | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 6/17/2031 |  |  | 2,014 |  |  |  | 2,009 |  |  |  | 2,009 |  |  |  | 0.32 |  |
Essential Services Holding Corporation | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 6/17/2031 |  |  | 395 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Essential Services Holding Corporation | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.00% |  | 9.31% |  | 6/17/2030 |  |  | 247 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Flint Opco, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 1.00% |  | 9.08% |  | 8/15/2030 |  |  | 3,047 |  |  |  | 940 |  |  |  | 955 |  |  |  | 0.15 |  |
FSHS I, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 0.75% |  | 10.08% |  | 11/18/2028 |  |  | 199 |  |  |  | 197 |  |  |  | 196 |  |  |  | 0.03 |  |
GS Seer Group Borrower LLC | (8) |  | First Lien Term Loan |  | S + 6.75% |  | 1.00% |  | 11.06% |  | 4/29/2030 |  |  | 100 |  |  |  | 98 |  |  |  | 98 |  |  |  | 0.02 |  |
GSV Holding, LLC | (8) |  | First Lien Term Loan |  | S + 2.63% |  | 1.00% |  | 10.06% (Incl. 3.13% PIK) |  | 10/18/2030 |  |  | 4,856 |  |  |  | 4,832 |  |  |  | 4,833 |  |  |  | 0.76 |  |
GSV Holding, LLC | (7) |  | First Lien Revolver |  | S + 4.25% |  | 1.00% |  | 8.56% |  | 10/18/2030 |  |  | 217 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Health Buyer LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 4/27/2029 |  |  | 3,304 |  |  |  | 645 |  |  |  | 646 |  |  |  | 0.10 |  |
Home Service Topco IV, Inc. | (8) |  | First Lien Term Loan |  | S + 6.00% |  | 1.00% |  | 10.41% |  | 12/31/2027 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Innovetive Petcare, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.46% |  | 6/30/2028 |  |  | 5,462 |  |  |  | 5,462 |  |  |  | 5,393 |  |  |  | 0.85 |  |
Innovetive Petcare, Inc. |  |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 1.00% |  | 9.46% |  | 6/30/2028 |  |  | 1,520 |  |  |  | 1,521 |  |  |  | 1,501 |  |  |  | 0.24 |  |
Innovetive Petcare, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 1.00% |  | 9.46% |  | 6/30/2028 |  |  | 6,279 |  |  |  | 4,387 |  |  |  | 4,324 |  |  |  | 0.68 |  |
Intel 471 INC. |  |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 9/27/2028 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Quick Quack Car Wash Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 6/10/2031 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Seahawk Bidco, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 12/19/2031 |  |  | 5,818 |  |  |  | 5,797 |  |  |  | 5,797 |  |  |  | 0.91 |  |
Seahawk Bidco, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 12/19/2031 |  |  | 1,818 |  |  |  | (3 | ) |  |  | (7 | ) |  |  | — |  |
Seahawk Bidco, LLC | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 12/19/2030 |  |  | 545 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |

50

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Diversified Consumer Services (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taymax Group Acquisition, LLC | (8) |  | First Lien Term Loan |  | S + 6.00% |  | 1.00% |  | 10.43% |  | 7/31/2026 |  | $ | 199 |  |  | $ | 199 |  |  | $ | 199 |  |  |  | 0.03 |  | %
Trackforce Acquireco, Inc. |  |  | First Lien Term Loan |  | S + 5.75% |  | 0.75% |  | 10.06% |  | 6/23/2028 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
US Fitness Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 9/4/2031 |  |  | 8,822 |  |  |  | 8,780 |  |  |  | 8,781 |  |  |  | 1.38 |  |
US Fitness Holdings, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 9/4/2031 |  |  | 2,206 |  |  |  | (11 | ) |  |  | (10 | ) |  |  | — |  |
US Fitness Holdings, LLC | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 9/4/2030 |  |  | 172 |  |  |  | 34 |  |  |  | 34 |  |  |  | 0.01 |  |
Vertex Service Partners, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 0.75% |  | 10.08% |  | 11/8/2030 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Vertex Service Partners, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.00% |  | 9.81% |  | 11/8/2030 |  |  | 250 |  |  |  | 5 |  |  |  | 5 |  |  |  | — |  |
VPP Intermediate Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.18% |  | 12/1/2027 |  |  | 1,866 |  |  |  | 1,856 |  |  |  | 1,861 |  |  |  | 0.29 |  |
VPP Intermediate Holdings, LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 1.00% |  | 10.18% |  | 12/1/2027 |  |  | 560 |  |  |  | 557 |  |  |  | 558 |  |  |  | 0.09 |  |
VPP Intermediate Holdings, LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 1.00% |  | 10.18% |  | 12/1/2027 |  |  | 1,689 |  |  |  | 1,681 |  |  |  | 1,685 |  |  |  | 0.26 |  |
VPP Intermediate Holdings, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 0.00% |  | 10.18% |  | 12/1/2027 |  |  | 2,643 |  |  |  | 2,514 |  |  |  | 2,515 |  |  |  | 0.39 |  |
VPP Intermediate Holdings, LLC | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.00% |  | 9.68% |  | 12/1/2027 |  |  | 229 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 72,491 |  |  |  | 72,460 |  |  |  | 11.37 |  |
Diversified Telecommunication Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guardian US Holdco LLC | (5)(8) |  | First Lien Term Loan |  | S + 3.50% |  | 0.50% |  | 7.81% |  | 1/31/2030 |  |  | 2,244 |  |  |  | 2,253 |  |  |  | 2,252 |  |  |  | 0.35 |  |
Virgin Media Bristol LLC | (5)(6)(8) |  | First Lien Term Loan |  | S + 3.18% |  | 0.00% |  | 7.53% |  | 3/31/2031 |  |  | 2,000 |  |  |  | 1,988 |  |  |  | 1,984 |  |  |  | 0.31 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,241 |  |  |  | 4,236 |  |  |  | 0.66 |  |
Electrical Equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Infinite Bidco LLC | (8) |  | First Lien Term Loan |  | S + 6.25% |  | 1.00% |  | 10.56% |  | 3/2/2028 |  |  | 100 |  |  |  | 100 |  |  |  | 100 |  |  |  | 0.02 |  |
Power Grid Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 12/2/2030 |  |  | 6,095 |  |  |  | 6,095 |  |  |  | 6,095 |  |  |  | 0.96 |  |
Power Grid Holdings, Inc. | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 12/2/2030 |  |  | 890 |  |  |  | — |  |  |  | — |  |  |  | — |  |
TPC Engineering Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.00% |  | 9.93% |  | 2/16/2027 |  |  | 556 |  |  |  | 551 |  |  |  | 551 |  |  |  | 0.09 |  |
TPC Engineering Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.00% |  | 9.83% |  | 2/16/2028 |  |  | 4,036 |  |  |  | 3,996 |  |  |  | 3,996 |  |  |  | 0.63 |  |
TPC Engineering Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.00% |  | 9.93% |  | 2/16/2027 |  |  | 1,950 |  |  |  | 1,931 |  |  |  | 1,931 |  |  |  | 0.30 |  |
TPC Engineering Holdings, Inc. | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.00% |  | 9.58% |  | 2/16/2027 |  |  | 441 |  |  |  | 289 |  |  |  | 288 |  |  |  | 0.05 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12,962 |  |  |  | 12,961 |  |  |  | 2.05 |  |
Electronic Equipment, Instruments and Components |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dwyer Instruments, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 7/23/2029 |  |  | 3,889 |  |  |  | 3,851 |  |  |  | 3,851 |  |  |  | 0.60 |  |
Dwyer Instruments, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 7/23/2029 |  |  | 505 |  |  |  | (2 | ) |  |  | (5 | ) |  |  | — |  |
Dwyer Instruments, LLC | (7) |  | First Lien Revolver |  | S + 7.75% |  | 0.00% |  | 12.06% |  | 7/23/2029 |  |  | 706 |  |  |  | (7 | ) |  |  | (7 | ) |  |  | — |  |
Excelitas Technologies Corp. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.58% |  | 8/12/2029 |  |  | 2,522 |  |  |  | (12 | ) |  |  | (6 | ) |  |  | — |  |
Phoenix 1 Buyer Corporation | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 11/20/2030 |  |  | 5,858 |  |  |  | 5,858 |  |  |  | 5,858 |  |  |  | 0.92 |  |
Phoenix 1 Buyer Corporation | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.75% |  | 9.83% |  | 11/20/2029 |  |  | 1,142 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Wildcat Topco, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 11/17/2031 |  |  | 1,513 |  |  |  | 1,506 |  |  |  | 1,506 |  |  |  | 0.24 |  |
Wildcat Topco, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 11/17/2031 |  |  | 270 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Wildcat Topco, Inc. | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 11/17/2031 |  |  | 270 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,192 |  |  |  | 11,195 |  |  |  | 1.76 |  |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Energy Equipment and Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRCI Longhorn Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 8/27/2031 |  | $ | 6,118 |  |  | $ | 6,089 |  |  | $ | 6,111 |  |  |  | 0.96 |  | %
CRCI Longhorn Holdings, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 8/27/2031 |  |  | 1,530 |  |  |  | (7 | ) |  |  | (2 | ) |  |  | — |  |
CRCI Longhorn Holdings, Inc. | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 8/27/2031 |  |  | 1,020 |  |  |  | 454 |  |  |  | 458 |  |  |  | 0.07 |  |
DMC Holdco, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.08% |  | 7/13/2029 |  |  | 199 |  |  |  | 198 |  |  |  | 199 |  |  |  | 0.03 |  |
Integrated Power Services Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 8.95% |  | 11/22/2028 |  |  | 4,523 |  |  |  | 4,516 |  |  |  | 4,514 |  |  |  | 0.71 |  |
Integrated Power Services Holdings, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 0.75% |  | 8.83% |  | 11/22/2028 |  |  | 7,978 |  |  |  | (19 | ) |  |  | (16 | ) |  |  | — |  |
Phillips & Temro Industries Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.46% |  | 9/8/2025 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,431 |  |  |  | 11,464 |  |  |  | 1.80 |  |
Financial Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1364720 B.C. LTD. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.00% |  | 8.81% |  | 9/9/2028 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Cerity Partners Equity Holding LLC |  |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 7/28/2029 |  |  | 1,317 |  |  |  | 1,314 |  |  |  | 1,317 |  |  |  | 0.21 |  |
Cerity Partners Equity Holding LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 7/28/2029 |  |  | 10,139 |  |  |  | 4,503 |  |  |  | 4,527 |  |  |  | 0.71 |  |
Cerity Partners Equity Holding LLC | (7) |  | First Lien Revolver |  | S + 5.75% |  | 0.75% |  | 10.06% |  | 7/28/2028 |  |  | 543 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
CFGI Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 8.83% |  | 11/2/2027 |  |  | 6,711 |  |  |  | 6,659 |  |  |  | 6,661 |  |  |  | 1.04 |  |
CFGI Holdings, LLC | (7) |  | First Lien Revolver |  | S + 4.50% |  | 0.75% |  | 8.83% |  | 11/2/2027 |  |  | 270 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
Cherry Bekaert Advisory LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.00% |  | 9.58% |  | 6/30/2028 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Citrin Cooperman Advisors, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.00% |  | 9.60% |  | 10/1/2027 |  |  | 579 |  |  |  | 579 |  |  |  | 579 |  |  |  | 0.09 |  |
Contractual Buyer, LLC | (8) |  | First Lien Term Loan |  | S + 6.00% |  | 0.75% |  | 10.33% |  | 10/10/2030 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Foreside Financial Group, LLC |  |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.68% |  | 9/30/2027 |  |  | 569 |  |  |  | 569 |  |  |  | 569 |  |  |  | 0.09 |  |
Foreside Financial Group, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 1.00% |  | 9.83% |  | 9/30/2027 |  |  | 11,650 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Heights Buyer, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.16% |  | 8/25/2028 |  |  | 5,348 |  |  |  | 5,348 |  |  |  | 5,348 |  |  |  | 0.84 |  |
Heights Buyer, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 1.00% |  | 10.16% |  | 8/25/2028 |  |  | 874 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Heights Buyer, LLC | (7) |  | First Lien Revolver |  | S + 5.75% |  | 0.00% |  | 10.16% |  | 8/25/2028 |  |  | 764 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Kriv Acquisition Inc. | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.08% |  | 7/6/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 198 |  |  |  | 0.03 |  |
Kriv Acquisition Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 6.50% |  | 1.00% |  | 10.83% |  | 7/6/2029 |  |  | 1,338 |  |  |  | (6 | ) |  |  | (7 | ) |  |  | — |  |
Minotaur Acquisition, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 6/3/2030 |  |  | 8,706 |  |  |  | 8,620 |  |  |  | 8,645 |  |  |  | 1.36 |  |
Minotaur Acquisition, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 6/3/2030 |  |  | 1,455 |  |  |  | (14 | ) |  |  | (10 | ) |  |  | — |  |
Minotaur Acquisition, Inc. | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 6/3/2030 |  |  | 1,455 |  |  |  | 1,440 |  |  |  | 1,445 |  |  |  | 0.23 |  |
Minotaur Acquisition, Inc. | (7) |  | First Lien Revolver |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 6/3/2030 |  |  | 873 |  |  |  | (9 | ) |  |  | (6 | ) |  |  | — |  |
Neon Maple Purchaser Inc. | (5)(6)(8) |  | First Lien Term Loan |  | S + 3.00% |  | 0.00% |  | 7.33% |  | 11/15/2031 |  |  | 2,000 |  |  |  | 2,008 |  |  |  | 2,007 |  |  |  | 0.31 |  |
Pathstone Family Office LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.43% |  | 5/15/2029 |  |  | 152 |  |  |  | 151 |  |  |  | 152 |  |  |  | 0.02 |  |
Pathstone Family Office LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.43% |  | 5/15/2029 |  |  | 3,648 |  |  |  | 3,611 |  |  |  | 3,629 |  |  |  | 0.57 |  |
Pathstone Family Office LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.00% |  | 9.43% |  | 5/15/2029 |  |  | 1,454 |  |  |  | (11 | ) |  |  | (7 | ) |  |  | — |  |
Pathstone Family Office LLC | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.00% |  | 9.33% |  | 5/15/2028 |  |  | 374 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |

52

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Financial Services (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Petrus Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.89% |  | 10/17/2029 |  | $ | 199 |  |  | $ | 199 |  |  | $ | 199 |  |  |  | 0.03 |  | %
Project Accelerate Parent LLC | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.75% |  | 9.58% |  | 2/22/2031 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Ryan, LLC | (7) |  | First Lien Revolver |  | S + 4.50% |  | 0.00% |  | 8.83% |  | 11/14/2028 |  |  | 100 |  |  |  | 6 |  |  |  | 6 |  |  |  | — |  |
The Chartis Group, LLC | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 8.81% |  | 9/17/2031 |  |  | 1,266 |  |  |  | 1,260 |  |  |  | 1,260 |  |  |  | 0.20 |  |
The Chartis Group, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 0.75% |  | 8.81% |  | 9/17/2031 |  |  | 388 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
The Chartis Group, LLC | (7) |  | First Lien Revolver |  | S + 4.50% |  | 0.75% |  | 8.81% |  | 9/17/2031 |  |  | 194 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Wealth Enhancement Group, LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 10/2/2028 |  |  | 200 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Wealth Enhancement Group, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 10/2/2028 |  |  | 9,677 |  |  |  | (13 | ) |  |  | (69 | ) |  |  | (0.01 | ) |
Wealth Enhancement Group, LLC | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.00% |  | 9.58% |  | 10/2/2028 |  |  | 323 |  |  |  | — |  |  |  | (2 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 37,201 |  |  |  | 37,230 |  |  |  | 5.84 |  |
Food Products |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BCPE North Star US Holdco 2, Inc. | (7) |  | First Lien Revolver |  | S + 3.75% |  | 0.00% |  | 8.08% |  | 6/10/2026 |  |  | 100 |  |  |  | 81 |  |  |  | 82 |  |  |  | 0.01 |  |
Chg Ppc Parent LLC | (7) |  | First Lien Revolver |  | S + 2.75% |  | 0.00% |  | 7.08% |  | 12/8/2026 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Fiesta Purchaser, Inc. | (5)(8) |  | First Lien Term Loan |  | S + 3.25% |  | 0.00% |  | 7.58% |  | 2/12/2031 |  |  | 2,250 |  |  |  | 2,257 |  |  |  | 2,255 |  |  |  | 0.35 |  |
Primary Products Finance LLC | (5)(8) |  | First Lien Term Loan |  | S + 3.25% |  | 0.00% |  | 7.58% |  | 4/1/2029 |  |  | 2,244 |  |  |  | 2,257 |  |  |  | 2,253 |  |  |  | 0.35 |  |
RB Holdings Interco, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.43% |  | 5/4/2028 |  |  | 199 |  |  |  | 196 |  |  |  | 199 |  |  |  | 0.03 |  |
Sigma Holdco B.V. | (5)(6)(8) |  | First Lien Term Loan |  | S + 4.25% |  | 0.00% |  | 8.74% |  | 1/3/2028 |  |  | 1,995 |  |  |  | 2,006 |  |  |  | 2,005 |  |  |  | 0.31 |  |
Sugar Ppc Buyer LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.00% |  | 9.58% |  | 10/2/2030 |  |  | 6,800 |  |  |  | (31 | ) |  |  | (34 | ) |  |  | (0.01 | ) |
WPP Bullet Buyer, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 12/7/2030 |  |  | 888 |  |  |  | 875 |  |  |  | 877 |  |  |  | 0.14 |  |
WPP Bullet Buyer, LLC | (7) |  | First Lien Revolver |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 12/7/2029 |  |  | 83 |  |  |  | 64 |  |  |  | 64 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,705 |  |  |  | 7,701 |  |  |  | 1.19 |  |
Ground Transportation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AMS Parent, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.45% |  | 10/25/2028 |  |  | 199 |  |  |  | 197 |  |  |  | 197 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 197 |  |  |  | 197 |  |  |  | 0.03 |  |
Health Care Technology |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acentra Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.50% |  | 9.81% |  | 12/17/2029 |  |  | 76 |  |  |  | 76 |  |  |  | 76 |  |  |  | 0.01 |  |
Acentra Holdings, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.50% |  | 9.81% |  | 12/17/2029 |  |  | 220 |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |
Athenahealth Group Inc. | (7) |  | First Lien Revolver |  | S + 3.50% |  | 0.00% |  | 7.83% |  | 2/15/2027 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Bracket Intermediate Holding Corp. | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.00% |  | 9.33% |  | 2/7/2028 |  |  | 100 |  |  |  | — |  |  |  | (2 | ) |  |  | — |  |
Caerus US 1 Inc. | (6)(8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 5/25/2029 |  |  | 199 |  |  |  | 197 |  |  |  | 199 |  |  |  | 0.03 |  |
Continental Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.50% |  | 4/2/2031 |  |  | 4,860 |  |  |  | 4,860 |  |  |  | 4,792 |  |  |  | 0.75 |  |
Continental Buyer, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.50% |  | 4/2/2031 |  |  | 1,911 |  |  |  | — |  |  |  | (27 | ) |  |  | — |  |
Continental Buyer, Inc. | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.75% |  | 9.50% |  | 4/2/2031 |  |  | 717 |  |  |  | — |  |  |  | (10 | ) |  |  | — |  |
DeLorean Purchaser, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 12/16/2031 |  |  | 4,356 |  |  |  | 4,324 |  |  |  | 4,324 |  |  |  | 0.68 |  |
DeLorean Purchaser, Inc. | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 12/16/2031 |  |  | 653 |  |  |  | (5 | ) |  |  | (5 | ) |  |  | — |  |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Health Care Technology (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Empower Payments Investor, LLC | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 8.83% |  | 3/12/2031 |  | $ | 2,145 |  |  | $ | 2,145 |  |  | $ | 2,145 |  |  |  | 0.34 |  | %
Empower Payments Investor, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.58% |  | 3/12/2031 |  |  | 306 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Empower Payments Investor, LLC | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.75% |  | 9.58% |  | 3/12/2030 |  |  | 163 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Ensemble RCM, LLC | (7) |  | First Lien Revolver |  | S + 3.00% |  | 0.00% |  | 7.33% |  | 6/27/2028 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
HT Intermediary III, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 11/12/2030 |  |  | 6,300 |  |  |  | 6,270 |  |  |  | 6,270 |  |  |  | 0.98 |  |
HT Intermediary III, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 1.00% |  | 9.08% |  | 11/12/2030 |  |  | 1,527 |  |  |  | (4 | ) |  |  | (7 | ) |  |  | — |  |
HT Intermediary III, Inc. | (7) |  | First Lien Revolver |  | S + 4.75% |  | 1.00% |  | 9.08% |  | 11/12/2030 |  |  | 573 |  |  |  | 74 |  |  |  | 74 |  |  |  | 0.01 |  |
IMO Investor Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 5/11/2029 |  |  | 3,235 |  |  |  | 3,235 |  |  |  | 3,235 |  |  |  | 0.51 |  |
IMO Investor Holdings, Inc. |  |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 5/11/2029 |  |  | 388 |  |  |  | 388 |  |  |  | 388 |  |  |  | 0.06 |  |
IMO Investor Holdings, Inc. | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.00% |  | 9.31% |  | 5/11/2028 |  |  | 370 |  |  |  | 11 |  |  |  | 11 |  |  |  | — |  |
Invictus Buyer, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 6/3/2031 |  |  | 7,819 |  |  |  | 7,819 |  |  |  | 7,819 |  |  |  | 1.23 |  |
Invictus Buyer, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 6/3/2031 |  |  | 3,266 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Invictus Buyer, LLC | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 6/3/2031 |  |  | 1,210 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Net Health Acquisition Corp. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 7/5/2031 |  |  | 7,588 |  |  |  | 7,552 |  |  |  | 7,588 |  |  |  | 1.19 |  |
Net Health Acquisition Corp. | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 7/3/2031 |  |  | 973 |  |  |  | 151 |  |  |  | 156 |  |  |  | 0.02 |  |
SDS Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.91% |  | 9/30/2027 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Zelis Cost Management Buyer, Inc. | (7) |  | First Lien Revolver |  | S + 2.75% |  | 0.00% |  | 7.08% |  | 1/17/2029 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 37,292 |  |  |  | 37,224 |  |  |  | 5.84 |  |
Healthcare Equipment and Supplies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alcor Scientific LLC | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.93% |  | 1/31/2028 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Aspen Medical Products, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.08% |  | 6/10/2028 |  |  | 1,421 |  |  |  | 1,421 |  |  |  | 1,418 |  |  |  | 0.22 |  |
Aspen Medical Products, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.08% |  | 6/10/2028 |  |  | 426 |  |  |  | 426 |  |  |  | 425 |  |  |  | 0.07 |  |
Belmont Instrument, LLC | (8) |  | First Lien Term Loan |  | S + 6.25% |  | 1.00% |  | 10.56% |  | 8/19/2028 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Blades Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.41% |  | 3/28/2028 |  |  | 200 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
BVI Medical, Inc. | (7) |  | First Lien Revolver |  | S + 3.75% |  | 0.00% |  | 8.08% |  | 8/28/2025 |  |  | 100 |  |  |  | 94 |  |  |  | 90 |  |  |  | 0.01 |  |
Cadence, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.46% |  | 5/21/2026 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
CDL Parent, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.46% |  | 12/7/2027 |  |  | 200 |  |  |  | 200 |  |  |  | 199 |  |  |  | 0.03 |  |
CPC/Cirtec Holdings, Inc | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 1/30/2029 |  |  | 1,665 |  |  |  | 1,657 |  |  |  | 1,661 |  |  |  | 0.26 |  |
CPC/Cirtec Holdings, Inc | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 10/31/2028 |  |  | 558 |  |  |  | (3 | ) |  |  | (1 | ) |  |  | — |  |
Resonetics, LLC | (7) |  | First Lien Revolver |  | S + 3.75% |  | 0.00% |  | 8.08% |  | 6/18/2029 |  |  | 100 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
TIDI Legacy Products, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.58% |  | 12/19/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,790 |  |  |  | 4,788 |  |  |  | 0.74 |  |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Healthcare Providers and Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
123Dentist Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 0.75% |  | 10.08% |  | 8/10/2029 |  | $ | 10,132 |  |  | $ | 1,789 |  |  | $ | 1,750 |  |  |  | 0.27 |  | %
AB Centers Acquisition Corporation | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 7/2/2031 |  |  | 2,491 |  |  |  | 2,473 |  |  |  | 2,473 |  |  |  | 0.39 |  |
AB Centers Acquisition Corporation | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 7/2/2031 |  |  | 453 |  |  |  | 28 |  |  |  | 28 |  |  |  | — |  |
AB Centers Acquisition Corporation | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 7/2/2031 |  |  | 226 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
ACI Group Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 2.75% |  | 0.75% |  | 10.43% (Incl. 3.25% PIK) |  | 8/2/2028 |  |  | 200 |  |  |  | 199 |  |  |  | 195 |  |  |  | 0.03 |  |
Arrow Management Acquisition, LLC |  |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 1.00% |  | 9.06% |  | 10/14/2027 |  |  | 6,982 |  |  |  | 6,899 |  |  |  | 6,902 |  |  |  | 1.08 |  |
Cardiology Management Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 6.25% |  | 1.00% |  | 10.56% |  | 1/31/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Community Medical Acquisition Corp. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.25% |  | 12/15/2028 |  |  | 100 |  |  |  | 98 |  |  |  | 98 |  |  |  | 0.02 |  |
Crown Laundry, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.70% |  | 3/8/2027 |  |  | 2,867 |  |  |  | 2,867 |  |  |  | 2,838 |  |  |  | 0.45 |  |
Crown Laundry, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.58% |  | 3/8/2027 |  |  | 521 |  |  |  | 521 |  |  |  | 516 |  |  |  | 0.08 |  |
Crown Laundry, LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 1.00% |  | 9.58% |  | 3/8/2027 |  |  | 602 |  |  |  | 602 |  |  |  | 596 |  |  |  | 0.09 |  |
CVR Management, LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.00% |  | 9.18% |  | 1/4/2027 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
DCA Investment Holding LLC | (8) |  | First Lien Term Loan |  | S + 6.41% |  | 0.75% |  | 10.71% |  | 4/3/2028 |  |  | 199 |  |  |  | 196 |  |  |  | 193 |  |  |  | 0.03 |  |
Docs, MSO, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 0.75% |  | 10.18% |  | 6/1/2028 |  |  | 100 |  |  |  | 99 |  |  |  | 99 |  |  |  | 0.02 |  |
ENT MSO, LLC | (8) |  | First Lien Term Loan |  | S + 6.50% |  | 1.00% |  | 10.81% |  | 12/31/2025 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Eyesouth Eye Care Holdco, LLC | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.93% |  | 10/5/2029 |  |  | 2,134 |  |  |  | 2,134 |  |  |  | 2,112 |  |  |  | 0.33 |  |
Eyesouth Eye Care Holdco, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 1.00% |  | 9.83% |  | 10/5/2029 |  |  | 4,300 |  |  |  | 44 |  |  |  | 1 |  |  |  | — |  |
Golden State Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.18% |  | 6/22/2026 |  |  | 199 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
ImageFirst Holdings, LLC | (7) |  | First Lien Revolver |  | S + 4.00% |  | 0.75% |  | 8.31% |  | 4/27/2028 |  |  | 100 |  |  |  | 20 |  |  |  | 20 |  |  |  | — |  |
IvyRehab Intermediate II, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.41% |  | 4/23/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
NJEYE LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.31% |  | 3/14/2025 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
OB Hospitalist Group, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.68% |  | 9/27/2027 |  |  | 199 |  |  |  | 199 |  |  |  | 198 |  |  |  | 0.03 |  |
OIS Management Services, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 11/16/2028 |  |  | 3,831 |  |  |  | 3,757 |  |  |  | 3,793 |  |  |  | 0.60 |  |
OIS Management Services, LLC |  |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 10/24/2031 |  |  | 3,151 |  |  |  | 3,090 |  |  |  | 3,119 |  |  |  | 0.49 |  |
ONS MSO, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 1.00% |  | 10.06% |  | 7/8/2026 |  |  | 221 |  |  |  | 106 |  |  |  | 107 |  |  |  | 0.02 |  |
ONS MSO, LLC | (7) |  | First Lien Revolver |  | P + 5.25% |  | 0.00% |  | 12.75% |  | 7/8/2026 |  |  | 24 |  |  |  | 13 |  |  |  | 13 |  |  |  | — |  |
Onsite Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 6.25% |  | 1.00% |  | 10.66% |  | 12/28/2027 |  |  | 339 |  |  |  | 338 |  |  |  | 337 |  |  |  | 0.05 |  |
Onsite Holdings, LLC | (7) |  | First Lien Revolver |  | S + 6.25% |  | 1.00% |  | 10.68% |  | 12/28/2025 |  |  | 93 |  |  |  | 19 |  |  |  | 18 |  |  |  | — |  |
Orsini Pharmaceutical Services, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.68% |  | 5/2/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Phantom Purchaser, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 9/19/2031 |  |  | 2,989 |  |  |  | 2,982 |  |  |  | 2,982 |  |  |  | 0.47 |  |
Phantom Purchaser, Inc. | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 9/19/2031 |  |  | 382 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Phynet Dermatology LLC | (8) |  | First Lien Term Loan |  | S + 6.50% |  | 1.00% |  | 10.81% |  | 10/20/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 198 |  |  |  | 0.03 |  |
Premise Health Holding Corp. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 3/3/2031 |  |  | 6,088 |  |  |  | 6,088 |  |  |  | 6,088 |  |  |  | 0.96 |  |
Premise Health Holding Corp. | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.00% |  | 9.81% |  | 3/1/2030 |  |  | 712 |  |  |  | — |  |  |  | — |  |  |  | — |  |
RxSense Holdings LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.41% |  | 3/13/2026 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |

55

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Healthcare Providers and Services (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
SM Wellness Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 9.07% |  | 4/17/2028 |  | $ | 199 |  |  | $ | 199 |  |  | $ | 199 |  |  |  | 0.03 |  | %
Smile Doctors LLC | (8) |  | First Lien Term Loan |  | S + 5.90% |  | 0.75% |  | 10.31% |  | 12/23/2028 |  |  | 100 |  |  |  | 99 |  |  |  | 99 |  |  |  | 0.02 |  |
Specialized Dental Holdings II, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.08% |  | 11/1/2027 |  |  | 199 |  |  |  | 199 |  |  |  | 200 |  |  |  | 0.03 |  |
SpecialtyCare, Inc. | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.32% |  | 6/18/2028 |  |  | 100 |  |  |  | 95 |  |  |  | 96 |  |  |  | 0.02 |  |
STCH Acquisition Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.66% |  | 10/30/2026 |  |  | 2,298 |  |  |  | 2,288 |  |  |  | 2,287 |  |  |  | 0.36 |  |
STCH Acquisition Inc. | (7) |  | First Lien Revolver |  | S + 6.25% |  | 1.00% |  | 10.66% |  | 10/30/2026 |  |  | 196 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
The GI Alliance Management, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.00% |  | 10.00% |  | 9/15/2028 |  |  | 8,455 |  |  |  | 1,813 |  |  |  | 1,919 |  |  |  | 0.30 |  |
TurningPoint Healthcare Solutions, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.18% |  | 7/14/2027 |  |  | 199 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
United Digestive MSO Parent, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.06% |  | 3/30/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Urology Management Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.81% |  | 6/15/2027 |  |  | 199 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
USHV Management, LLC | (8) |  | First Lien Term Loan |  | S + 6.38% |  | 1.00% |  | 10.78% |  | 12/23/2027 |  |  | 100 |  |  |  | 98 |  |  |  | 98 |  |  |  | 0.02 |  |
Vital Care Buyer, LLC | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 8.81% |  | 7/30/2031 |  |  | 5,289 |  |  |  | 5,265 |  |  |  | 5,264 |  |  |  | 0.83 |  |
Vital Care Buyer, LLC | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 7/30/2031 |  |  | 696 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 46,999 |  |  |  | 47,019 |  |  |  | 7.38 |  |
Hotels, Restaurants and Leisure |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BJH Holdings III Corp. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 8/19/2027 |  |  | 199 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Movati Athletic (Group) Inc. | (6)(8) |  | First Lien Term Loan |  | C + 4.75% |  | 0.00% |  | 8.32% |  | 5/29/2030 |  |  | CAD 7,533 |  |  |  | 5,394 |  |  |  | 5,197 |  |  |  | 0.82 |  |
Movati Athletic (Group) Inc. | (6)(7) |  | First Lien Delayed Draw Term Loan |  | C + 5.25% |  | 1.00% |  | 8.82% |  | 5/29/2030 |  |  | CAD 918 |  |  |  | (7 | ) |  |  | (5 | ) |  |  | — |  |
Southpaw Ap Buyer, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.71% |  | 3/2/2028 |  |  | 2,798 |  |  |  | 2,785 |  |  |  | 2,798 |  |  |  | 0.44 |  |
Southpaw Ap Buyer, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 1.00% |  | 9.71% |  | 3/2/2028 |  |  | 630 |  |  |  | 438 |  |  |  | 441 |  |  |  | 0.07 |  |
Southpaw Ap Buyer, LLC | (7) |  | First Lien Revolver |  | S + 4.50% |  | 0.00% |  | 8.81% |  | 3/2/2028 |  |  | 252 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
Ungerboeck Systems International, LLC |  |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.06% |  | 4/30/2027 |  |  | 199 |  |  |  | 199 |  |  |  | 200 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,006 |  |  |  | 8,829 |  |  |  | 1.39 |  |
Household Durables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stanton Carpet Intermediate Holdings II, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.46% |  | 10/1/2027 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Household Products |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
TPC US Parent, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.21% |  | 11/22/2025 |  |  | 200 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Wu Holdco, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 3/26/2027 |  |  | 3,520 |  |  |  | 2,456 |  |  |  | 2,453 |  |  |  | 0.38 |  |
Wu Holdco, Inc. | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.00% |  | 9.81% |  | 3/26/2027 |  |  | 362 |  |  |  | 123 |  |  |  | 122 |  |  |  | 0.02 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,778 |  |  |  | 2,774 |  |  |  | 0.43 |  |
Industrial Conglomerates |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Harvey Tool Company, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.58% |  | 10/26/2027 |  |  | 8,161 |  |  |  | 8,142 |  |  |  | 8,143 |  |  |  | 1.28 |  |
Harvey Tool Company, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.75% |  | 9.83% |  | 10/26/2027 |  |  | 3,213 |  |  |  | (8 | ) |  |  | (7 | ) |  |  | — |  |
Harvey Tool Company, LLC | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.75% |  | 9.83% |  | 10/26/2027 |  |  | 964 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,132 |  |  |  | 8,134 |  |  |  | 1.28 |  |

56

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Insurance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accession Risk Management, Inc |  |  | First Lien Term Loan |  | S + 4.75% |  | 0.00% |  | 9.29% |  | 11/1/2029 |  | $ | 22 |  |  | $ | 22 |  |  | $ | 23 |  |  |  | — |  | %
Accession Risk Management, Inc | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 11/1/2029 |  |  | 1,767 |  |  |  | (8 | ) |  |  | 2 |  |  |  | — |  |
Accession Risk Management, Inc | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 11/1/2029 |  |  | 231 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |
Alera Group, Inc. | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.58% |  | 10/2/2028 |  |  | 199 |  |  |  | 197 |  |  |  | 198 |  |  |  | 0.03 |  |
Allied Benefit Systems Intermediate LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.58% |  | 10/31/2030 |  |  | 3,372 |  |  |  | 3,372 |  |  |  | 3,372 |  |  |  | 0.53 |  |
Allied Benefit Systems Intermediate LLC |  |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.00% |  | 9.58% |  | 10/31/2030 |  |  | 618 |  |  |  | 618 |  |  |  | 618 |  |  |  | 0.10 |  |
AMBA Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.66% |  | 7/30/2027 |  |  | 2,903 |  |  |  | 2,882 |  |  |  | 2,883 |  |  |  | 0.45 |  |
AMBA Buyer, Inc. | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.66% |  | 7/30/2027 |  |  | 865 |  |  |  | 858 |  |  |  | 859 |  |  |  | 0.13 |  |
AMBA Buyer, Inc. | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.75% |  | 9.91% |  | 7/30/2027 |  |  | 223 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
Amerilife Holdings LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.00% |  | 9.25% |  | 8/31/2029 |  |  | 12,276 |  |  |  | 5,925 |  |  |  | 5,953 |  |  |  | 0.93 |  |
AQ Sunshine, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 7/24/2031 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Ardonagh Midco 3 PLC | (6)(8) |  | First Lien Term Loan |  | SON + 4.75% |  | 0.00% |  | 9.45% |  | 2/15/2031 |  |  | GBP 1,984 |  |  |  | 2,168 |  |  |  | 2,054 |  |  |  | 0.32 |  |
Ardonagh Midco 3 PLC | (6)(8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.50% |  | 9.00% |  | 2/17/2031 |  |  | 5,016 |  |  |  | 5,016 |  |  |  | 5,016 |  |  |  | 0.79 |  |
Asurion, LLC | (5)(8) |  | First Lien Term Loan |  | S + 3.25% |  | 0.00% |  | 7.70% |  | 12/23/2026 |  |  | 2,000 |  |  |  | 2,003 |  |  |  | 2,001 |  |  |  | 0.31 |  |
Beyond Risk Parent Holdings, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 0.00% |  | 8.93% |  | 10/8/2027 |  |  | 6,373 |  |  |  | 514 |  |  |  | 482 |  |  |  | 0.08 |  |
Galway Borrower LLC | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 8.81% |  | 9/29/2028 |  |  | 199 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Imagine 360 LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 9/30/2028 |  |  | 1,400 |  |  |  | 1,393 |  |  |  | 1,393 |  |  |  | 0.22 |  |
Imagine 360 LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 9/30/2028 |  |  | 767 |  |  |  | (4 | ) |  |  | (4 | ) |  |  | — |  |
Imagine 360 LLC | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 9/30/2028 |  |  | 327 |  |  |  | (3 | ) |  |  | (2 | ) |  |  | — |  |
Integrity Marketing Acquisition, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 8/25/2028 |  |  | 7,660 |  |  |  | 7,629 |  |  |  | 7,584 |  |  |  | 1.19 |  |
Mclarens Midco Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 0.75% |  | 8.81% |  | 12/19/2025 |  |  | 663 |  |  |  | 71 |  |  |  | 71 |  |  |  | 0.01 |  |
Oakbridge Insurance Agency LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 0.75% |  | 10.08% |  | 11/1/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Pareto Health Intermediate Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.00% |  | 9.25% |  | 5/31/2030 |  |  | 2,752 |  |  |  | 2,740 |  |  |  | 2,739 |  |  |  | 0.43 |  |
Pareto Health Intermediate Holdings, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.00% |  | 9.25% |  | 6/1/2030 |  |  | 653 |  |  |  | (2 | ) |  |  | (3 | ) |  |  | — |  |
Patriot Growth Insurance Services, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.46% |  | 10/16/2028 |  |  | 5,041 |  |  |  | 5,016 |  |  |  | 5,041 |  |  |  | 0.79 |  |
Patriot Growth Insurance Services, LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.46% |  | 10/16/2028 |  |  | 1,409 |  |  |  | 1,402 |  |  |  | 1,409 |  |  |  | 0.22 |  |
Patriot Growth Insurance Services, LLC | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.75% |  | 9.46% |  | 10/16/2028 |  |  | 534 |  |  |  | 264 |  |  |  | 267 |  |  |  | 0.04 |  |
Riser Interco LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.00% |  | 9.31% |  | 10/31/2029 |  |  | 11,576 |  |  |  | 9,715 |  |  |  | 9,644 |  |  |  | 1.51 |  |
Simplicity Financial Marketing Group Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.25% |  | 12/31/2031 |  |  | 6,769 |  |  |  | 6,735 |  |  |  | 6,735 |  |  |  | 1.06 |  |
Simplicity Financial Marketing Group Holdings, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.00% |  | 9.25% |  | 12/31/2031 |  |  | 1,805 |  |  |  | (5 | ) |  |  | (9 | ) |  |  | — |  |
Simplicity Financial Marketing Group Holdings, Inc. | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.00% |  | 9.25% |  | 12/31/2031 |  |  | 903 |  |  |  | (5 | ) |  |  | (5 | ) |  |  | — |  |
THG Acquisition, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 10/31/2031 |  |  | 2,961 |  |  |  | 2,961 |  |  |  | 2,947 |  |  |  | 0.46 |  |
THG Acquisition, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 10/31/2031 |  |  | 660 |  |  |  | (2 | ) |  |  | (3 | ) |  |  | — |  |
THG Acquisition, LLC | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 10/31/2031 |  |  | 330 |  |  |  | 23 |  |  |  | 23 |  |  |  | — |  |
World Insurance Associates, LLC | (8) |  | First Lien Term Loan |  | S + 6.00% |  | 1.00% |  | 10.31% |  | 4/3/2028 |  |  | 199 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 62,286 |  |  |  | 62,080 |  |  |  | 9.72 |  |

57

Table of Contents

ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
IT Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BigTime Software, Inc. |  |  | First Lien Term Loan |  | S + 6.25% |  | 0.00% |  | 10.58% |  | 6/30/2028 |  | $ | 200 |  |  | $ | 200 |  |  | $ | 200 |  |  |  | 0.03 |  | %
Cardinal Parent, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 8.96% |  | 11/12/2027 |  |  | 199 |  |  |  | 187 |  |  |  | 191 |  |  |  | 0.03 |  |
DCert Buyer, Inc. | (7) |  | First Lien Revolver |  | S + 3.75% |  | 0.00% |  | 8.08% |  | 10/16/2026 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
DT1 Midco Corp | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.00% |  | 9.31% |  | 12/30/2031 |  |  | 5,749 |  |  |  | 5,720 |  |  |  | 5,720 |  |  |  | 0.90 |  |
DT1 Midco Corp | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.00% |  | 9.31% |  | 12/30/2031 |  |  | 2,005 |  |  |  | (5 | ) |  |  | (10 | ) |  |  | — |  |
DT1 Midco Corp | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.00% |  | 9.31% |  | 12/30/2030 |  |  | 802 |  |  |  | (4 | ) |  |  | (4 | ) |  |  | — |  |
Govdelivery Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 3.50% |  | 0.75% |  | 10.86% (Incl. 2.25% PIK) |  | 1/17/2031 |  |  | 200 |  |  |  | 199 |  |  |  | 200 |  |  |  | 0.03 |  |
Marco Technologies, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 11/24/2026 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Medallia, Inc. | (8) |  | First Lien Term Loan |  | S + 2.50% |  | 0.75% |  | 6.91% |  | 10/29/2028 |  |  | 99 |  |  |  | 96 |  |  |  | 97 |  |  |  | 0.02 |  |
Noble Midco 3 Limited | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 6/24/2031 |  |  | 5,056 |  |  |  | 5,056 |  |  |  | 5,043 |  |  |  | 0.79 |  |
Noble Midco 3 Limited | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 6/11/2031 |  |  | 824 |  |  |  | — |  |  |  | (2 | ) |  |  | — |  |
Noble Midco 3 Limited | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.75% |  | 9.56% |  | 12/11/2030 |  |  | 1,120 |  |  |  | — |  |  |  | (3 | ) |  |  | — |  |
Oeconnection LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 4/22/2031 |  |  | 4,418 |  |  |  | 4,418 |  |  |  | 4,410 |  |  |  | 0.69 |  |
Oeconnection LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.00% |  | 9.58% |  | 4/22/2031 |  |  | 2,138 |  |  |  | — |  |  |  | (4 | ) |  |  | — |  |
Oeconnection LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.00% |  | 0.00% |  | 8.33% |  | 4/22/2031 |  |  | 771 |  |  |  | (9 | ) |  |  | (1 | ) |  |  | — |  |
Oeconnection LLC | (7) |  | First Lien Revolver |  | S + 4.00% |  | 0.75% |  | 8.33% |  | 4/22/2031 |  |  | 482 |  |  |  | (2 | ) |  |  | (1 | ) |  |  | — |  |
Passageways, Inc. |  |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.46% |  | 7/21/2027 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
PDI TA Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 1/29/2031 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Ridge Trail US Bidco, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 8.81% |  | 9/30/2031 |  |  | 8,686 |  |  |  | 8,626 |  |  |  | 8,621 |  |  |  | 1.35 |  |
Ridge Trail US Bidco, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 9/30/2031 |  |  | 2,995 |  |  |  | (21 | ) |  |  | (22 | ) |  |  | — |  |
Ridge Trail US Bidco, Inc. | (7) |  | First Lien Revolver |  | S + 4.50% |  | 0.00% |  | 8.81% |  | 3/31/2031 |  |  | 998 |  |  |  | 263 |  |  |  | 262 |  |  |  | 0.04 |  |
Safety Borrower Holdings LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.70% |  | 9/1/2027 |  |  | 3,492 |  |  |  | 3,492 |  |  |  | 3,473 |  |  |  | 0.54 |  |
Safety Borrower Holdings LLC | (7) |  | First Lien Revolver |  | P + 4.25% |  | 0.00% |  | 11.75% |  | 9/1/2027 |  |  | 499 |  |  |  | 125 |  |  |  | 122 |  |  |  | 0.02 |  |
Sailpoint Technologies Holdings, Inc. | (6)(8) |  | First Lien Term Loan |  | S + 6.00% |  | 0.75% |  | 10.31% |  | 8/16/2029 |  |  | 131 |  |  |  | 131 |  |  |  | 131 |  |  |  | 0.02 |  |
Spirit RR Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.16% |  | 9/13/2028 |  |  | 3,252 |  |  |  | 3,245 |  |  |  | 3,228 |  |  |  | 0.51 |  |
Spirit RR Holdings, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.75% |  | 9.16% |  | 9/13/2028 |  |  | 467 |  |  |  | 231 |  |  |  | 229 |  |  |  | 0.04 |  |
Spirit RR Holdings, Inc. | (7) |  | First Lien Revolver |  | S + 4.00% |  | 0.75% |  | 8.31% |  | 9/13/2028 |  |  | 272 |  |  |  | (1 | ) |  |  | (2 | ) |  |  | — |  |
Storable, Inc. | (7) |  | First Lien Revolver |  | S + 2.75% |  | 0.00% |  | 7.08% |  | 4/16/2026 |  |  | 100 |  |  |  | 25 |  |  |  | 25 |  |  |  | — |  |
Trunk Acquisition, Inc. | (8) |  | First Lien Term Loan |  | S + 6.00% |  | 1.00% |  | 10.46% |  | 2/19/2030 |  |  | 199 |  |  |  | 199 |  |  |  | 198 |  |  |  | 0.03 |  |
Trunk Acquisition, Inc. | (8) |  | First Lien Term Loan |  | S + 6.00% |  | 0.00% |  | 10.46% |  | 2/19/2030 |  |  | 1,814 |  |  |  | 1,807 |  |  |  | 1,805 |  |  |  | 0.28 |  |
Trunk Acquisition, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 6.00% |  | 0.00% |  | 10.46% |  | 2/19/2030 |  |  | 1,845 |  |  |  | (5 | ) |  |  | (9 | ) |  |  | — |  |
VS Buyer, LLC | (7) |  | First Lien Revolver |  | S + 3.25% |  | 0.00% |  | 7.58% |  | 4/12/2029 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Welocalize, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 6/23/2026 |  |  | 200 |  |  |  | 199 |  |  |  | 200 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 34,771 |  |  |  | 34,696 |  |  |  | 5.44 |  |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Life Sciences Tools & Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Kwol Acquisition, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.00% |  | 12/12/2029 |  | $ | 6,144 |  |  | $ | 6,144 |  |  | $ | 6,052 |  |  |  | 0.95 |  | %
Kwol Acquisition, Inc. | (7) |  | First Lien Revolver |  | S + 6.25% |  | 0.75% |  | 10.50% |  | 12/12/2029 |  |  | 841 |  |  |  | — |  |  |  | (13 | ) |  |  | — |  |
Sotera Health Holdings, LLC | (5)(6)(8) |  | First Lien Term Loan |  | S + 3.25% |  | 0.00% |  | 7.56% |  | 5/30/2031 |  |  | 1,895 |  |  |  | 1,905 |  |  |  | 1,902 |  |  |  | 0.30 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,049 |  |  |  | 7,941 |  |  |  | 1.25 |  |
Machinery |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CD&R Hydra Buyer, Inc. | (5)(8) |  | First Lien Term Loan |  | S + 4.00% |  | 0.00% |  | 8.43% |  | 3/25/2031 |  |  | 1,995 |  |  |  | 2,007 |  |  |  | 2,004 |  |  |  | 0.31 |  |
Clyde Industries Us Holdco, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.46% |  | 12/18/2025 |  |  | 197 |  |  |  | 197 |  |  |  | 197 |  |  |  | 0.03 |  |
Dynatect Group Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.91% |  | 9/30/2026 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Flow Control Solutions, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 3/30/2029 |  |  | 5,241 |  |  |  | 75 |  |  |  | 76 |  |  |  | 0.01 |  |
Flow Control Solutions, Inc. | (7) |  | First Lien Revolver |  | S + 6.00% |  | 0.75% |  | 10.31% |  | 3/31/2029 |  |  | 936 |  |  |  | (7 | ) |  |  | (7 | ) |  |  | — |  |
Merlin Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.50% |  | 9.06% |  | 12/14/2028 |  |  | 5,536 |  |  |  | 5,536 |  |  |  | 5,536 |  |  |  | 0.87 |  |
Merlin Buyer, Inc. | (7) |  | First Lien Revolver |  | S + 0.50% |  | 0.00% |  | 4.81% |  | 12/14/2026 |  |  | 1,450 |  |  |  | (14 | ) |  |  | (14 | ) |  |  | — |  |
Process Equipment, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.00% |  | 9.75% |  | 9/6/2026 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Process Insights Acquisition, Inc. | (8) |  | First Lien Term Loan |  | S + 6.25% |  | 1.00% |  | 10.56% |  | 7/18/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 198 |  |  |  | 0.03 |  |
Victory Buyer LLC | (7) |  | First Lien Revolver |  | S + 3.75% |  | 0.00% |  | 8.08% |  | 11/19/2026 |  |  | 100 |  |  |  | 44 |  |  |  | 45 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,436 |  |  |  | 8,434 |  |  |  | 1.32 |  |
Media |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fitness International LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.00% |  | 9.58% |  | 2/12/2029 |  |  | 10,853 |  |  |  | 10,844 |  |  |  | 10,938 |  |  |  | 1.72 |  |
Getty Images, Inc. | (5)(6)(8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.00% |  | 8.85% |  | 2/19/2026 |  |  | 1,991 |  |  |  | 1,994 |  |  |  | 1,989 |  |  |  | 0.31 |  |
Klick Inc. | (6)(8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 3/31/2028 |  |  | 732 |  |  |  | 725 |  |  |  | 725 |  |  |  | 0.11 |  |
Learfield Communications, LLC | (7) |  | First Lien Revolver |  | S + 3.25% |  | 0.00% |  | 7.58% |  | 12/31/2027 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
MH Sub I, LLC | (5)(8) |  | First Lien Term Loan |  | S + 4.25% |  | 0.00% |  | 8.58% |  | 12/11/2031 |  |  | 2,500 |  |  |  | 2,475 |  |  |  | 2,482 |  |  |  | 0.39 |  |
W2O Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.00% |  | 6/12/2028 |  |  | 1,604 |  |  |  | 1,597 |  |  |  | 1,600 |  |  |  | 0.25 |  |
W2O Holdings, Inc. |  |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 1.00% |  | 9.06% |  | 6/12/2028 |  |  | 688 |  |  |  | 682 |  |  |  | 687 |  |  |  | 0.11 |  |
W2O Holdings, Inc. | (7) |  | First Lien Revolver |  | S + 4.75% |  | 1.00% |  | 9.00% |  | 6/12/2028 |  |  | 132 |  |  |  | 39 |  |  |  | 39 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,356 |  |  |  | 18,460 |  |  |  | 2.90 |  |
Oil, Gas and Consumable Fuels |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Edpo, LLC | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 8.83% |  | 12/8/2027 |  |  | 6,901 |  |  |  | 6,901 |  |  |  | 6,884 |  |  |  | 1.08 |  |
Edpo, LLC | (7) |  | First Lien Revolver |  | S + 4.50% |  | 0.75% |  | 8.83% |  | 12/8/2026 |  |  | 81 |  |  |  | 28 |  |  |  | 28 |  |  |  | — |  |
Valicor PPC Intermediate II LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 7/24/2028 |  |  | 2,656 |  |  |  | 2,650 |  |  |  | 2,650 |  |  |  | 0.42 |  |
Valicor PPC Intermediate II LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 7/24/2028 |  |  | 930 |  |  |  | 928 |  |  |  | 928 |  |  |  | 0.15 |  |
Valicor PPC Intermediate II LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 7/24/2028 |  |  | 442 |  |  |  | 441 |  |  |  | 441 |  |  |  | 0.07 |  |
Valicor PPC Intermediate II LLC | (7) |  | First Lien Revolver |  | S + 4.00% |  | 1.00% |  | 8.33% |  | 1/24/2028 |  |  | 710 |  |  |  | 75 |  |  |  | 75 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,023 |  |  |  | 11,006 |  |  |  | 1.73 |  |
Personal Care Products |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Apothecary Products, LLC | (6)(8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.10% |  | 7/27/2025 |  |  | 194 |  |  |  | 194 |  |  |  | 194 |  |  |  | 0.03 |  |
Swanson Health Products, Incorporated | (8) |  | First Lien Term Loan |  | S + 6.25% |  | 1.00% |  | 10.82% |  | 6/30/2025 |  |  | 199 |  |  |  | 199 |  |  |  | 200 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 393 |  |  |  | 394 |  |  |  | 0.06 |  |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Pharmaceuticals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bamboo US BidCo LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 12.93% (Incl. 3.38% PIK) |  | 9/30/2030 |  | $ | 3,023 |  |  | $ | 3,023 |  |  | $ | 3,008 |  |  |  | 0.47 |  | %
Bamboo US BidCo LLC | (8) |  | First Lien Term Loan |  | E + 5.25% |  | 1.00% |  | 12.93% (Incl. 3.38% PIK) |  | 9/30/2030 |  |  | EUR 2,697 |  |  |  | 2,948 |  |  |  | 2,779 |  |  |  | 0.44 |  |
Bamboo US BidCo LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.00% |  | 9.58% |  | 9/30/2030 |  |  | 1,892 |  |  |  | 270 |  |  |  | 264 |  |  |  | 0.04 |  |
Bamboo US BidCo LLC | (7) |  | First Lien Revolver |  | S + 6.00% |  | 0.00% |  | 10.31% |  | 10/1/2029 |  |  | 826 |  |  |  | — |  |  |  | (4 | ) |  |  | — |  |
Bridges Consumer Healthcare Intermediate LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 12/20/2031 |  |  | 4,708 |  |  |  | 4,685 |  |  |  | 4,684 |  |  |  | 0.73 |  |
Bridges Consumer Healthcare Intermediate LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 12/20/2031 |  |  | 2,235 |  |  |  | — |  |  |  | (11 | ) |  |  | — |  |
Bridges Consumer Healthcare Intermediate LLC | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.00% |  | 9.56% |  | 12/20/2031 |  |  | 894 |  |  |  | — |  |  |  | (4 | ) |  |  | — |  |
Exactcare Parent Inc | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.81% |  | 11/5/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Tersera Therapeutics, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.06% |  | 4/4/2029 |  |  | 3,874 |  |  |  | 3,874 |  |  |  | 3,874 |  |  |  | 0.61 |  |
Tersera Therapeutics, LLC | (7) |  | First Lien Revolver |  | S + 6.75% |  | 1.00% |  | 11.06% |  | 4/4/2029 |  |  | 116 |  |  |  | — |  |  |  | — |  |  |  | — |  |
TWL Holdings Corp | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.71% |  | 11/6/2026 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,199 |  |  |  | 14,989 |  |  |  | 2.35 |  |
Professional Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Analytic Partners, LP | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 4/4/2030 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Analytic Partners, LP | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 4/4/2030 |  |  | 3,713 |  |  |  | 3,702 |  |  |  | 3,699 |  |  |  | 0.58 |  |
Analytic Partners, LP | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.00% |  | 9.08% |  | 4/4/2030 |  |  | 502 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
Applied Technical Services, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.21% |  | 12/29/2026 |  |  | 199 |  |  |  | 196 |  |  |  | 196 |  |  |  | 0.03 |  |
Aprio Advisory Group, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 8/1/2031 |  |  | 7,536 |  |  |  | 7,518 |  |  |  | 7,518 |  |  |  | 1.18 |  |
Aprio Advisory Group, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 8/1/2031 |  |  | 3,277 |  |  |  | 1,505 |  |  |  | 1,504 |  |  |  | 0.24 |  |
Aprio Advisory Group, LLC | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 8/1/2031 |  |  | 1,638 |  |  |  | 520 |  |  |  | 520 |  |  |  | 0.08 |  |
AQ Carver Buyer, Inc. | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.00% |  | 9.58% |  | 8/2/2028 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Carr, Riggs & Ingram Capital, L.L.C. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.50% |  | 9.06% |  | 11/18/2031 |  |  | 2,875 |  |  |  | 2,861 |  |  |  | 2,861 |  |  |  | 0.45 |  |
Carr, Riggs & Ingram Capital, L.L.C. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.50% |  | 9.06% |  | 11/18/2031 |  |  | 1,458 |  |  |  | (4 | ) |  |  | (7 | ) |  |  | — |  |
Carr, Riggs & Ingram Capital, L.L.C. | (7) |  | First Lien Revolver |  | S + 3.75% |  | 0.50% |  | 8.06% |  | 11/18/2031 |  |  | 667 |  |  |  | 80 |  |  |  | 80 |  |  |  | 0.01 |  |
Clinical Education Alliance, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.46% |  | 12/21/2026 |  |  | 100 |  |  |  | 99 |  |  |  | 98 |  |  |  | 0.02 |  |
Crisis Prevention Institute, Inc. | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.50% |  | 9.08% |  | 4/9/2029 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Disa Holdings Corp. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 9/9/2028 |  |  | 2,854 |  |  |  | 2,854 |  |  |  | 2,817 |  |  |  | 0.44 |  |
Disa Holdings Corp. | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 9/9/2028 |  |  | 556 |  |  |  | 556 |  |  |  | 549 |  |  |  | 0.09 |  |
Disa Holdings Corp. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 9/11/2028 |  |  | 591 |  |  |  | 68 |  |  |  | 60 |  |  |  | 0.01 |  |
DTI Holdco, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.08% |  | 4/26/2029 |  |  | 199 |  |  |  | 201 |  |  |  | 201 |  |  |  | 0.03 |  |
Foreigner Bidco Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.93% |  | 4/19/2028 |  |  | 200 |  |  |  | 200 |  |  |  | 199 |  |  |  | 0.03 |  |
Grant Thornton Advisors LLC | (5)(6)(8) |  | First Lien Term Loan |  | S + 2.75% |  | 0.00% |  | 7.06% |  | 6/2/2031 |  |  | 1,202 |  |  |  | 1,202 |  |  |  | 1,204 |  |  |  | 0.19 |  |
Grant Thornton Advisors LLC | (5)(6)(7)(8) |  | First Lien Delayed Draw Term Loan |  | S + 2.75% |  | 0.00% |  | 7.06% |  | 6/2/2031 |  |  | 147 |  |  |  | — |  |  |  | — |  |  |  | — |  |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Professional Services (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ground Penetrating Radar Systems, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.58% |  | 4/2/2031 |  | $ | 9,041 |  |  | $ | 9,041 |  |  | $ | 9,041 |  |  |  | 1.42 |  | %
Ground Penetrating Radar Systems, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 1.00% |  | 10.08% |  | 4/2/2031 |  |  | 2,158 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Ground Penetrating Radar Systems, LLC | (7) |  | First Lien Revolver |  | P + 4.25% |  | 1.00% |  | 11.75% |  | 4/2/2031 |  |  | 1,151 |  |  |  | 144 |  |  |  | 144 |  |  |  | 0.02 |  |
HSI Halo Acquisition Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 6/30/2031 |  |  | 7,825 |  |  |  | 7,806 |  |  |  | 7,806 |  |  |  | 1.22 |  |
HSI Halo Acquisition Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 6/28/2031 |  |  | 1,397 |  |  |  | 239 |  |  |  | 239 |  |  |  | 0.04 |  |
HSI Halo Acquisition Inc. | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.00% |  | 9.31% |  | 6/28/2030 |  |  | 932 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
IG Investments Holdings, LLC |  |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 9/22/2028 |  |  | 2,608 |  |  |  | 2,596 |  |  |  | 2,596 |  |  |  | 0.41 |  |
IG Investments Holdings, LLC | (7) |  | First Lien Revolver |  | S + 4.00% |  | 0.75% |  | 8.31% |  | 9/22/2028 |  |  | 293 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Iris Buyer LLC | (8) |  | First Lien Term Loan |  | S + 6.25% |  | 1.00% |  | 10.56% |  | 10/2/2030 |  |  | 199 |  |  |  | 197 |  |  |  | 199 |  |  |  | 0.03 |  |
KENE Acquisition, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.58% |  | 2/8/2031 |  |  | 199 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Keng Acquisition, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 8/1/2029 |  |  | 199 |  |  |  | 197 |  |  |  | 199 |  |  |  | 0.03 |  |
Marina Acquisition, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 7/1/2030 |  |  | 2,146 |  |  |  | 2,125 |  |  |  | 2,125 |  |  |  | 0.33 |  |
Marina Acquisition, Inc. | (7) |  | First Lien Revolver |  | S + 4.00% |  | 0.00% |  | 8.31% |  | 7/1/2030 |  |  | 307 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |
MHE Intermediate Holdings, LLC | (8) |  | First Lien Term Loan |  | S + 6.00% |  | 1.00% |  | 10.46% |  | 7/21/2027 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Propio LS, LLC | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 8.75% |  | 7/17/2030 |  |  | 7,064 |  |  |  | 7,030 |  |  |  | 7,046 |  |  |  | 1.11 |  |
Propio LS, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 0.00% |  | 8.75% |  | 7/17/2030 |  |  | 3,409 |  |  |  | (17 | ) |  |  | (9 | ) |  |  | — |  |
Propio LS, LLC | (7) |  | First Lien Revolver |  | S + 6.00% |  | 0.75% |  | 10.25% |  | 7/17/2029 |  |  | 1,704 |  |  |  | (8 | ) |  |  | (4 | ) |  |  | — |  |
Rimkus Consulting Group, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.50% |  | 4/1/2031 |  |  | 8,962 |  |  |  | 8,962 |  |  |  | 8,917 |  |  |  | 1.40 |  |
Rimkus Consulting Group, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.50% |  | 4/1/2031 |  |  | 2,251 |  |  |  | 239 |  |  |  | 228 |  |  |  | 0.04 |  |
Rimkus Consulting Group, Inc. | (7) |  | First Lien Revolver |  | S + 5.25% |  | 0.75% |  | 9.50% |  | 4/1/2030 |  |  | 1,201 |  |  |  | — |  |  |  | (6 | ) |  |  | — |  |
Ruppert Landscape, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 0.75% |  | 10.06% |  | 12/1/2028 |  |  | 4,804 |  |  |  | 748 |  |  |  | 728 |  |  |  | 0.11 |  |
Ruppert Landscape, LLC | (7) |  | First Lien Revolver |  | S + 5.75% |  | 0.75% |  | 10.06% |  | 12/1/2028 |  |  | 320 |  |  |  | (3 | ) |  |  | (4 | ) |  |  | — |  |
Skopima Consilio Parent LLC | (5)(8) |  | First Lien Term Loan |  | S + 3.75% |  | 0.50% |  | 8.08% |  | 5/12/2028 |  |  | 2,172 |  |  |  | 2,178 |  |  |  | 2,183 |  |  |  | 0.34 |  |
Tempo Buyer Corp. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.75% |  | 9.06% |  | 8/26/2028 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
USRP Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 12/31/2029 |  |  | 8,677 |  |  |  | 8,635 |  |  |  | 8,677 |  |  |  | 1.36 |  |
USRP Holdings, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 12/31/2029 |  |  | 2,773 |  |  |  | (12 | ) |  |  | — |  |  |  | — |  |
USRP Holdings, Inc. | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.75% |  | 9.83% |  | 12/31/2029 |  |  | 900 |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |
Vaco Holdings, LLC | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.00% |  | 9.33% |  | 1/21/2027 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Vensure Employer Services, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.50% |  | 9.31% |  | 9/27/2031 |  |  | 1,947 |  |  |  | 1,937 |  |  |  | 1,938 |  |  |  | 0.30 |  |
Vensure Employer Services, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.00% |  | 9.31% |  | 9/27/2031 |  |  | 476 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |
YA Intermediate Holdings II, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 10/1/2031 |  |  | 5,419 |  |  |  | 5,392 |  |  |  | 5,392 |  |  |  | 0.85 |  |
YA Intermediate Holdings II, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 10/1/2031 |  |  | 2,258 |  |  |  | (6 | ) |  |  | (11 | ) |  |  | — |  |
YA Intermediate Holdings II, LLC | (7) |  | First Lien Revolver |  | S + 4.00% |  | 0.75% |  | 8.31% |  | 10/1/2031 |  |  | 1,084 |  |  |  | 49 |  |  |  | 49 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 79,811 |  |  |  | 79,760 |  |  |  | 12.52 |  |
Real Estate Management and Development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sako and Partners Lower Holdings LLC. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 9/15/2028 |  |  | 6,566 |  |  |  | 6,551 |  |  |  | 6,549 |  |  |  | 1.03 |  |
Sako and Partners Lower Holdings LLC. | (7) |  | First Lien Revolver |  | S + 6.00% |  | 1.00% |  | 10.31% |  | 9/15/2028 |  |  | 418 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,550 |  |  |  | 6,548 |  |  |  | 1.03 |  |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Software |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
365 Retail Markets, LLC | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 12/22/2028 |  | $ | 3,876 |  |  | $ | 3,876 |  |  | $ | 3,852 |  |  |  | 0.60 |  | %
365 Retail Markets, LLC | (8) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 12/22/2028 |  |  | 1,753 |  |  |  | 1,753 |  |  |  | 1,742 |  |  |  | 0.27 |  |
365 Retail Markets, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 1.00% |  | 8.81% |  | 12/22/2028 |  |  | 1,371 |  |  |  | 914 |  |  |  | 906 |  |  |  | 0.14 |  |
Adelaide Borrower, LLC |  |  | First Lien Term Loan |  | S + 6.25% |  | 0.75% |  | 10.56% |  | 5/8/2030 |  |  | 200 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
Alta Buyer, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 12/21/2027 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
AQA Acquisition Holding, Inc. | (7) |  | First Lien Revolver |  | S + 3.50% |  | 0.00% |  | 7.83% |  | 3/3/2028 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Artifact Bidco, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.50% |  | 8.81% |  | 7/28/2031 |  |  | 3,354 |  |  |  | 3,331 |  |  |  | 3,329 |  |  |  | 0.52 |  |
Artifact Bidco, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.50% |  | 0.50% |  | 8.81% |  | 7/25/2031 |  |  | 821 |  |  |  | (6 | ) |  |  | (6 | ) |  |  | — |  |
Artifact Bidco, Inc. | (7) |  | First Lien Revolver |  | S + 4.50% |  | 0.50% |  | 8.81% |  | 7/26/2030 |  |  | 399 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |
Artifact Bidco, Inc. | (7) |  | First Lien Revolver |  | S + 4.50% |  | 0.50% |  | 8.81% |  | 7/26/2030 |  |  | 188 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Banker's Toolbox, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 0.75% |  | 8.81% |  | 7/27/2027 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Bluecat Networks (USA) Inc. | (6)(8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.00% |  | 9.31% |  | 8/8/2028 |  |  | 1,473 |  |  |  | 1,462 |  |  |  | 1,462 |  |  |  | 0.23 |  |
Camelot U.S. Acquisition LLC | (5)(6)(8) |  | First Lien Term Loan |  | S + 2.75% |  | 0.00% |  | 7.08% |  | 1/31/2031 |  |  | 3,067 |  |  |  | 3,075 |  |  |  | 3,068 |  |  |  | 0.48 |  |
Catalis Intermediate, Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.00% |  | 9.96% |  | 8/4/2027 |  |  | 100 |  |  |  | 99 |  |  |  | 98 |  |  |  | 0.02 |  |
Central Parent LLC | (5)(8) |  | First Lien Term Loan |  | S + 3.25% |  | 0.00% |  | 7.58% |  | 7/6/2029 |  |  | 1,746 |  |  |  | 1,737 |  |  |  | 1,725 |  |  |  | 0.27 |  |
Cloud Software Group, Inc. | (7) |  | First Lien Revolver |  | S + 3.75% |  | 0.00% |  | 8.08% |  | 9/30/2027 |  |  | 100 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Concord Global Acquisition, LLC, | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 12/29/2031 |  |  | 3,946 |  |  |  | 3,926 |  |  |  | 3,926 |  |  |  | 0.62 |  |
Concord Global Acquisition, LLC, | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 12/29/2031 |  |  | 1,715 |  |  |  | (4 | ) |  |  | (9 | ) |  |  | — |  |
Concord Global Acquisition, LLC, | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 12/29/2031 |  |  | 686 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |
Digital.AI Software Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 6.00% |  | 1.00% |  | 10.31% |  | 8/10/2028 |  |  | 100 |  |  |  | 100 |  |  |  | 100 |  |  |  | 0.02 |  |
DS Admiral Bidco, LLC | (7) |  | First Lien Revolver |  | S + 4.00% |  | 0.00% |  | 8.33% |  | 6/26/2029 |  |  | 100 |  |  |  | 23 |  |  |  | 23 |  |  |  | — |  |
DT Intermediate Holdco, Inc. | (8) |  | First Lien Term Loan |  | 10.59% (Incl. 3.25% PIK) |  | 0.75% |  | 10.59% (Incl. 3.25% PIK) |  | 2/24/2028 |  |  | 3,299 |  |  |  | 3,283 |  |  |  | 3,274 |  |  |  | 0.51 |  |
DT Intermediate Holdco, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 2/24/2028 |  |  | 1,658 |  |  |  | (8 | ) |  |  | (12 | ) |  |  | — |  |
e-Discovery AcquireCo, LLC | (8) |  | First Lien Term Loan |  | S + 6.25% |  | 1.00% |  | 10.56% |  | 8/29/2029 |  |  | 200 |  |  |  | 200 |  |  |  | 199 |  |  |  | 0.03 |  |
Eclipse Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.50% |  | 9.08% |  | 9/8/2031 |  |  | 7,862 |  |  |  | 7,823 |  |  |  | 7,823 |  |  |  | 1.23 |  |
Eclipse Buyer, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.50% |  | 9.08% |  | 9/5/2031 |  |  | 1,333 |  |  |  | (7 | ) |  |  | (7 | ) |  |  | — |  |
Eclipse Buyer, Inc. | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.50% |  | 9.08% |  | 9/5/2031 |  |  | 676 |  |  |  | (3 | ) |  |  | (3 | ) |  |  | — |  |
Empyrean Solutions, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 11/26/2031 |  |  | 1,382 |  |  |  | 1,376 |  |  |  | 1,376 |  |  |  | 0.22 |  |
Empyrean Solutions, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 11/26/2031 |  |  | 553 |  |  |  | (1 | ) |  |  | (3 | ) |  |  | — |  |
Empyrean Solutions, LLC | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 11/26/2031 |  |  | 207 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |
Enverus Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.75% |  | 9.83% |  | 12/24/2029 |  |  | 1,979 |  |  |  | 1,979 |  |  |  | 1,979 |  |  |  | 0.31 |  |
Enverus Holdings, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.75% |  | 9.83% |  | 12/22/2029 |  |  | 142 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Enverus Holdings, Inc. | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.00% |  | 9.83% |  | 12/22/2029 |  |  | 214 |  |  |  | 6 |  |  |  | 6 |  |  |  | — |  |
ESG Investments, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.96% |  | 3/11/2028 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Governmentjobs.Com, Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.00% |  | 9.33% |  | 12/1/2028 |  |  | 200 |  |  |  | 199 |  |  |  | 200 |  |  |  | 0.03 |  |
GS Acquisitionco, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.31% |  | 5/25/2028 |  |  | 200 |  |  |  | 44 |  |  |  | 44 |  |  |  | 0.01 |  |
Hyphen Solutions, LLC | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.93% |  | 10/27/2026 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Kipu Buyer, LLC | (8) |  | First Lien Term Loan |  | S + 4.25% |  | 1.00% |  | 8.56% |  | 1/27/2027 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |

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CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Software (continued) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
KPA Parent Holdings, Inc. | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.18% |  | 7/19/2026 |  | $ | 5,289 |  |  | $ | 5,289 |  |  | $ | 5,289 |  |  |  | 0.83 |  | %
KPA Parent Holdings, Inc. | (8) |  | First Lien Delayed Draw Term Loan |  | S + 5.75% |  | 1.00% |  | 10.18% |  | 7/19/2026 |  |  | 1,018 |  |  |  | 1,018 |  |  |  | 1,018 |  |  |  | 0.16 |  |
KPA Parent Holdings, Inc. | (7) |  | First Lien Revolver |  | S + 5.50% |  | 1.00% |  | 9.93% |  | 7/17/2026 |  |  | 677 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Litera Bidco LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 1.00% |  | 9.33% |  | 5/1/2028 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
LogicMonitor, Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.75% |  | 9.83% |  | 11/19/2031 |  |  | 200 |  |  |  | 200 |  |  |  | 199 |  |  |  | 0.03 |  |
Mastery Acquisition Corp. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.50% |  | 9/7/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 200 |  |  |  | 0.03 |  |
McAfee Corp. | (5)(8) |  | First Lien Term Loan |  | S + 3.00% |  | 0.50% |  | 7.33% |  | 3/1/2029 |  |  | 2,500 |  |  |  | 2,506 |  |  |  | 2,505 |  |  |  | 0.39 |  |
Monotype Imaging Holdings Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 2/28/2031 |  |  | 1,229 |  |  |  | 1,233 |  |  |  | 1,229 |  |  |  | 0.19 |  |
Monotype Imaging Holdings Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.50% |  | 0.00% |  | 9.81% |  | 2/28/2031 |  |  | 103 |  |  |  | 24 |  |  |  | 24 |  |  |  | — |  |
Monotype Imaging Holdings Inc. | (7) |  | First Lien Revolver |  | S + 5.50% |  | 0.75% |  | 9.81% |  | 2/28/2030 |  |  | 154 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Montana Buyer Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 7/22/2029 |  |  | 2,664 |  |  |  | 2,657 |  |  |  | 2,664 |  |  |  | 0.42 |  |
Montana Buyer Inc. | (7) |  | First Lien Revolver |  | P + 5.75% |  | 0.00% |  | 13.25% |  | 7/21/2028 |  |  | 307 |  |  |  | 52 |  |  |  | 53 |  |  |  | 0.01 |  |
MRI Software LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.06% |  | 2/10/2027 |  |  | 6,984 |  |  |  | 6,951 |  |  |  | 7,001 |  |  |  | 1.10 |  |
MRI Software LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 1.00% |  | 9.06% |  | 2/10/2027 |  |  | 1,293 |  |  |  | 117 |  |  |  | 127 |  |  |  | 0.02 |  |
MRI Software LLC | (7) |  | First Lien Revolver |  | S + 4.75% |  | 1.00% |  | 9.16% |  | 2/10/2026 |  |  | 265 |  |  |  | 13 |  |  |  | 15 |  |  |  | — |  |
Nasuni Corporation | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 0.75% |  | 10.06% |  | 9/10/2030 |  |  | 6,250 |  |  |  | 6,204 |  |  |  | 6,206 |  |  |  | 0.97 |  |
Nasuni Corporation | (7) |  | First Lien Revolver |  | S + 5.75% |  | 0.75% |  | 10.06% |  | 9/10/2030 |  |  | 1,302 |  |  |  | (10 | ) |  |  | (9 | ) |  |  | — |  |
Navex Topco, Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.75% |  | 9.83% |  | 11/8/2030 |  |  | 5,190 |  |  |  | 5,190 |  |  |  | 5,190 |  |  |  | 0.81 |  |
Navex Topco, Inc. | (7) |  | First Lien Revolver |  | S + 5.75% |  | 0.75% |  | 10.08% |  | 11/7/2028 |  |  | 1,797 |  |  |  | — |  |  |  | — |  |  |  | — |  |
North Star Acquisitionco, LLC | (6)(8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.06% |  | 5/3/2029 |  |  | 4,385 |  |  |  | 4,374 |  |  |  | 4,385 |  |  |  | 0.69 |  |
North Star Acquisitionco, LLC | (6)(8) |  | First Lien Term Loan |  | C + 4.75% |  | 0.00% |  | 8.00% |  | 5/3/2029 |  |  | CAD 1,545 |  |  |  | 1,115 |  |  |  | 1,074 |  |  |  | 0.17 |  |
North Star Acquisitionco, LLC | (6)(7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 5/3/2029 |  |  | 276 |  |  |  | 264 |  |  |  | 264 |  |  |  | 0.04 |  |
North Star Acquisitionco, LLC | (6)(7) |  | First Lien Revolver |  | S + 6.00% |  | 1.00% |  | 10.31% |  | 5/3/2029 |  |  | 780 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |
Pegasus Transtech Holding, LLC | (8) |  | First Lien Term Loan |  | S + 6.00% |  | 1.00% |  | 10.33% |  | 11/17/2026 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Perforce Software, Inc. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.50% |  | 9.08% |  | 3/21/2031 |  |  | 2,036 |  |  |  | 2,038 |  |  |  | 2,013 |  |  |  | 0.32 |  |
Prism Parent Co. Inc. | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 9/19/2028 |  |  | 5,566 |  |  |  | 5,458 |  |  |  | 5,454 |  |  |  | 0.86 |  |
Prism Parent Co. Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 9/19/2028 |  |  | 1,420 |  |  |  | 544 |  |  |  | 542 |  |  |  | 0.09 |  |
Renaissance Holding Corp | (5)(8) |  | First Lien Term Loan |  | S + 4.00% |  | 0.50% |  | 8.33% |  | 4/5/2030 |  |  | 1,995 |  |  |  | 1,996 |  |  |  | 1,993 |  |  |  | 0.31 |  |
Routeware, Inc. |  |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.56% |  | 9/18/2031 |  |  | 3,182 |  |  |  | 3,167 |  |  |  | 3,174 |  |  |  | 0.50 |  |
Routeware, Inc. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 8.00% |  | 1.00% |  | 12.31% |  | 9/18/2031 |  |  | 1,477 |  |  |  | (7 | ) |  |  | (4 | ) |  |  | — |  |
Routeware, Inc. | (7) |  | First Lien Revolver |  | S + 8.00% |  | 1.00% |  | 12.31% |  | 9/18/2031 |  |  | 341 |  |  |  | (2 | ) |  |  | (1 | ) |  |  | — |  |
Spartan Bidco PTY LTD | (6)(8) |  | First Lien Term Loan |  | S + 0.75% |  | 0.00% |  | 11.21% (Incl. 6.00% PIK) |  | 1/24/2028 |  |  | 4,815 |  |  |  | 4,778 |  |  |  | 4,771 |  |  |  | 0.75 |  |
Spartan Bidco PTY LTD | (6)(7) |  | First Lien Revolver |  | S + 6.75% |  | 0.00% |  | 11.06% |  | 1/24/2028 |  |  | 385 |  |  |  | (4 | ) |  |  | (4 | ) |  |  | — |  |
Thunder Purchaser, Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 0.00% |  | 9.96% |  | 6/30/2028 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Trimech Acquisition Corp. | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 1.00% |  | 9.06% |  | 3/10/2028 |  |  | 925 |  |  |  | 917 |  |  |  | 916 |  |  |  | 0.14 |  |
Trimech Acquisition Corp. | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 1.00% |  | 9.06% |  | 3/10/2028 |  |  | 2,480 |  |  |  | (24 | ) |  |  | (25 | ) |  |  | — |  |
Trimech Acquisition Corp. | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 3/10/2028 |  |  | 1,550 |  |  |  | 78 |  |  |  | 78 |  |  |  | 0.01 |  |
Validity, Inc. | (6)(8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.68% |  | 5/30/2026 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
WatchGuard Technologies, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.58% |  | 7/2/2029 |  |  | 199 |  |  |  | 198 |  |  |  | 198 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 93,691 |  |  |  | 93,614 |  |  |  | 14.68 |  |

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CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Specialty Retail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shock Doctor Intermediate, LLC | (8) |  | First Lien Term Loan |  | S + 5.75% |  | 1.00% |  | 10.06% |  | 11/20/2029 |  | $ | 199 |  |  | $ | 199 |  |  | $ | 199 |  |  |  | 0.03 |  | %
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Technology Hardware, Storage and Peripherals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
TA TT Buyer, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.50% |  | 9.06% |  | 4/2/2029 |  |  | 199 |  |  |  | 199 |  |  |  | 200 |  |  |  | 0.03 |  |
Ubeo, LLC | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 1.00% |  | 9.71% |  | 4/3/2026 |  |  | 199 |  |  |  | 199 |  |  |  | 199 |  |  |  | 0.03 |  |
Victors Purchaser, LLC | (8) |  | First Lien Term Loan |  | S + 4.75% |  | 0.50% |  | 9.06% |  | 8/15/2031 |  |  | 9,217 |  |  |  | 9,195 |  |  |  | 9,194 |  |  |  | 1.44 |  |
Victors Purchaser, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 4.75% |  | 0.50% |  | 9.06% |  | 8/15/2031 |  |  | 2,194 |  |  |  | (5 | ) |  |  | (5 | ) |  |  | — |  |
Victors Purchaser, LLC | (7) |  | First Lien Revolver |  | S + 4.75% |  | 0.00% |  | 9.06% |  | 8/15/2031 |  |  | 1,254 |  |  |  | 184 |  |  |  | 180 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,772 |  |  |  | 9,768 |  |  |  | 1.53 |  |
Textiles, Apparel and Luxury Goods |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
MTI Group Acquisition Company | (6)(8) |  | First Lien Term Loan |  | S + 6.00% |  | 1.00% |  | 14.93% (Incl. 4.50% PIK) |  | 3/31/2025 |  |  | 100 |  |  |  | 100 |  |  |  | 100 |  |  |  | 0.02 |  |
Team Acquisition Corporation | (7) |  | First Lien Revolver |  | S + 5.50% |  | 1.00% |  | 9.83% |  | 11/21/2028 |  |  | 100 |  |  |  | — |  |  |  | (4 | ) |  |  | — |  |
Varsity Brands, Inc. | (5)(8) |  | First Lien Term Loan |  | S + 3.75% |  | 0.00% |  | 8.06% |  | 8/26/2031 |  |  | 2,000 |  |  |  | 2,010 |  |  |  | 2,005 |  |  |  | 0.31 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,110 |  |  |  | 2,101 |  |  |  | 0.33 |  |
Trading Companies and Distributors |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Graffiti Buyer, Inc. | (8) |  | First Lien Term Loan |  | S + 5.50% |  | 1.00% |  | 9.91% |  | 8/10/2027 |  |  | 199 |  |  |  | 197 |  |  |  | 194 |  |  |  | 0.03 |  |
Kele Holdco, Inc. | (8) |  | First Lien Term Loan |  | S + 4.50% |  | 1.00% |  | 8.83% |  | 2/21/2028 |  |  | 200 |  |  |  | 200 |  |  |  | 200 |  |  |  | 0.03 |  |
Surfaceprep Buyer, LLC | (8) |  | First Lien Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 2/4/2030 |  |  | 1,911 |  |  |  | 1,911 |  |  |  | 1,887 |  |  |  | 0.30 |  |
Surfaceprep Buyer, LLC | (7) |  | First Lien Delayed Draw Term Loan |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 2/4/2030 |  |  | 362 |  |  |  | 212 |  |  |  | 207 |  |  |  | 0.03 |  |
Surfaceprep Buyer, LLC | (7) |  | First Lien Revolver |  | S + 5.00% |  | 0.75% |  | 9.33% |  | 2/4/2030 |  |  | 362 |  |  |  | 45 |  |  |  | 41 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,565 |  |  |  | 2,529 |  |  |  | 0.40 |  |
Transportation Infrastructure |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Psc Parent, Inc. | (8) |  | First Lien Term Loan |  | S + 5.25% |  | 0.75% |  | 9.58% |  | 4/3/2031 |  |  | 1,630 |  |  |  | 1,630 |  |  |  | 1,630 |  |  |  | 0.26 |  |
Psc Parent, Inc. | (7)(8) |  | First Lien Delayed Draw Term Loan |  | S + 5.25% |  | 0.75% |  | 9.58% |  | 4/3/2031 |  |  | 661 |  |  |  | 272 |  |  |  | 272 |  |  |  | 0.04 |  |
Psc Parent, Inc. | (7) |  | First Lien Revolver |  | S + 4.25% |  | 0.00% |  | 8.58% |  | 4/3/2030 |  |  | 292 |  |  |  | 208 |  |  |  | 208 |  |  |  | 0.03 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,110 |  |  |  | 2,110 |  |  |  | 0.33 |  |
Wireless Telecommunication Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alert Media, Inc. |  |  | First Lien Term Loan |  | S + 6.50% |  | 1.00% |  | 11.06% (Incl. 10.06% PIK) |  | 4/12/2027 |  |  | 420 |  |  |  | 419 |  |  |  | 420 |  |  |  | 0.07 |  |
Alert Media, Inc. | (7) |  | First Lien Revolver |  | S + 5.00% |  | 1.00% |  | 9.31% |  | 4/12/2027 |  |  | 109 |  |  |  | — |  |  |  | — |  |  |  | — |  |
CCI Buyer, Inc. | (5)(8) |  | First Lien Term Loan |  | S + 4.00% |  | 0.75% |  | 8.33% |  | 12/17/2027 |  |  | 2,239 |  |  |  | 2,251 |  |  |  | 2,244 |  |  |  | 0.35 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,670 |  |  |  | 2,664 |  |  |  | 0.42 |  |
Total Secured Debt Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 845,082 |  |  |  | 843,710 |  |  |  | 132.36 |  |

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CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments (1) | Footnotes |  | Asset Type |  | Reference Rate and Spread (2) |  | Interest Rate Floor |  | Interest Rate (2) |  | Maturity Date |  | Par Amount / Shares |  |  | Amortized Cost (4) |  |  | Fair Value |  |  | Percentage of Net Assets |  |
Unsecured Debt Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Diversified Consumer Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Apex Service Partners Intermediate 2, LLC |  |  | Subordinated Unsecured Delayed Draw Term Loan |  | N/A |  | 0.00% |  | 14.25% |  | 4/23/2031 |  | $ | 721 |  |  | $ | 713 |  |  | $ | 703 |  |  |  | 0.11 |  | %
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 713 |  |  |  | 703 |  |  |  | 0.11 |  |
Total Unsecured Debt Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 713 |  |  |  | 703 |  |  |  | 0.11 |  |
Equity Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Diversified Consumer Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Seahawk Bidco, LLC | (9) |  | LP Units |  |  |  |  |  |  |  |  |  |  | 1 |  |  |  | 1,301 |  |  |  | 1,301 |  |  |  | 0.20 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,301 |  |  |  | 1,301 |  |  |  | 0.20 |  |
Electronic Equipment, Instruments and Components |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Wildcat Topco, Inc. | (9) |  | LP Units |  |  |  |  |  |  |  |  |  |  | 52 |  |  |  | 52 |  |  |  | 52 |  |  |  | 0.01 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 52 |  |  |  | 52 |  |  |  | 0.01 |  |
Health Care Technology |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DeLorean Purchaser, Inc. | (9) |  | Common |  |  |  |  |  |  |  |  |  |  | 435 |  |  |  | 435 |  |  |  | 435 |  |  |  | 0.07 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 435 |  |  |  | 435 |  |  |  | 0.07 |  |
IT Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DT1 Midco Corp | (9) |  | Common |  |  |  |  |  |  |  |  |  |  | 1,159 |  |  |  | 1,159 |  |  |  | 1,159 |  |  |  | 0.18 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,159 |  |  |  | 1,159 |  |  |  | 0.18 |  |
Software |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Concord Global Acquisition, LLC, | (9) |  | LP Units |  |  |  |  |  |  |  |  |  |  | 1 |  |  |  | 1,000 |  |  |  | 1,000 |  |  |  | 0.16 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,000 |  |  |  | 1,000 |  |  |  | 0.16 |  |
Total Equity Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,947 |  |  |  | 3,947 |  |  |  | 0.62 |  |
Total Investments - non-controlled/non-affiliated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 849,742 |  |  |  | 848,360 |  |  |  | 133.09 |  |
Cash Equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BlackRock Liquidity T-Fund - Institutional Shares | (11) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 39,527 |  |  |  | 39,527 |  |  |  | 6.20 |  |
Total Cash Equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 39,527 |  |  |  | 39,527 |  |  |  | 6.20 |  |
Total Portfolio Investments and Cash Equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 889,269 |  |  | $ | 887,887 |  |  |  | 139.29 |  | %

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CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

1.
Unless otherwise indicated, issuers of debt and equity investments held by the Company (which such term “Company” shall include the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. The total par amount is presented for debt investments and the number of shares or units owned is presented for equity investments.
2.
The majority of the investments bear interest at a rate that may be determined by reference to the Secured Overnight Financing Rate ("SOFR" or "S"), Prime Rate (“Prime” or “P”), Canadian Dollar Offered Rate ("CDOR" or "C"), Sterling Overnight Index Average ("SONIA" or "SON"), Euro Interbank Offered Rate ("EURIBOR" or "E") or other relevant benchmark, which reset daily, monthly, quarterly, semiannually or annually. For each such investment, the Company has provided the spread over reference rates and the current contractual interest rate in effect on December 31, 2024. Certain investments are subject to an interest rate floor, or rate cap. Certain investments contain a Payment-in-Kind (“PIK”) provision. SOFR based contracts may include a credit spread adjustment, which is included within the stated all-in interest rate, if applicable, that is charged in addition to the base rate and the stated spread.
3.
Investments with par value / shares less than 500 shown as zero.
4.
The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").
5.
These investments were not valued using unobservable inputs and are not considered Level 3 investments. Fair value was determined in good faith by the Adviser as the Company’s valuation designee, subject to the oversight of the Board of Trustees (the “Board”) (see Note 2 and Note 5), pursuant to the Company’s valuation policy.
6.
The investment is not a qualifying asset, in whole or in part, under Section 55(a) of the 1940 Act. The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of December 31, 2024, non-qualifying assets represented 6.65% of to tal assets as calculated in accordance with regulatory requirements.
7.
Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may be subject to unused commitment fees. Negative cost and fair value results from unamortized fees, which are capitalized to the investment cost. The unfunded loan commitment may be subject to a commitment termination date that may expire prior to the maturity date stated. Such commitments are subject to the satisfaction of certain conditions set forth in the documents governing these loans and letters of credit and there can be no assurance that such conditions will be satisfied. See the following page for more information on the Company’s unfunded commitments.
8.
Position or portion t hereof is pledged as collateral under the Morgan Stanley Facility.
9.
Security exempt from registration under the Securities Act of 1933 (the “Securities Act”), and may be deemed to be “restricted securities” under the Securities Act. As of December 31, 2024, the aggregate fair value of these securities is $3,947 or 0.62% of the Company’s net assets. The acquisition date of DeLorean Purchaser, Inc. was December 16, 2024. The acquisition date of Seahawk Bidco, LLC was December 19, 2024. The acquisition date of Wildcat Topco, Inc. was December 23, 2024. The acquisition date of Concord Global Acquisition, LLC was December 27, 2024. The acquisition date of DT1 Midco Corp was December 30, 2024.
10.
These are co-investments made with the Company’s affiliates in accordance with the terms of the exemptive order the Company received from the Securities and Exchange Commission (the “SEC”) permitting us to do so (see Note 3 to the consolidated financial statements for discussion of the exemptive order from the SEC).
11.
Cash equivalents amounting to $39,527 are invested in money market funds (BlackRock Liquidity T-Fund - Institutional Shares) and would be categorized as Level 1 under the ASC 820 fair value level hierarchy as of December 31, 2024.

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CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
123Dentist Inc. |  | Delayed Draw Term Loan |  | 8/10/2026 |  | $ | 5,260 |  |  | $ | (25 | )
365 Retail Markets, LLC |  | Delayed Draw Term Loan |  | 6/15/2025 |  |  | 457 |  |  |  | (3 | )
AB Centers Acquisition Corporation |  | Revolver |  | 7/2/2031 |  |  | 226 |  |  |  | (2 | )
AB Centers Acquisition Corporation |  | Delayed Draw Term Loan |  | 7/2/2026 |  |  | 422 |  |  |  | (3 | )
Accession Risk Management, Inc |  | Revolver |  | 11/1/2029 |  |  | 231 |  |  |  | — |
Accession Risk Management, Inc |  | Delayed Draw Term Loan |  | 8/16/2026 |  |  | 1,766 |  |  |  | 2 |
Acentra Holdings, LLC |  | Delayed Draw Term Loan |  | 3/20/2026 |  |  | 220 |  |  |  | (1 | )
Alert Media, Inc. |  | Revolver |  | 4/12/2027 |  |  | 109 |  |  |  | — |
AMBA Buyer, Inc. |  | Revolver |  | 7/30/2027 |  |  | 223 |  |  |  | (2 | )
Amerilife Holdings LLC |  | Delayed Draw Term Loan |  | 6/18/2026 |  |  | 6,322 |  |  |  | — |
Analytic Partners, LP |  | Revolver |  | 4/4/2030 |  |  | 502 |  |  |  | (2 | )
Anchor Packaging, LLC |  | Revolver |  | 4/17/2029 |  |  | 100 |  |  |  | — |
Apex Service Partners, LLC |  | Revolver |  | 10/24/2029 |  |  | 211 |  |  |  | (1 | )
Aprio Advisory Group, LLC |  | Delayed Draw Term Loan |  | 8/2/2026 |  |  | 1,764 |  |  |  | (4 | )
Aprio Advisory Group, LLC |  | Revolver |  | 8/1/2031 |  |  | 1,114 |  |  |  | (3 | )
AQ Carver Buyer, Inc. |  | Revolver |  | 8/2/2028 |  |  | 100 |  |  |  | — |
AQA Acquisition Holding, Inc. |  | Revolver |  | 3/3/2028 |  |  | 100 |  |  |  | — |
Arax MidCo, LLC |  | Delayed Draw Term Loan |  | 10/14/2025 |  |  | 710 |  |  |  | (8 | )
Arax MidCo, LLC |  | Revolver |  | 4/11/2029 |  |  | 431 |  |  |  | (5 | )
Artifact Bidco, Inc. |  | Revolver |  | 7/26/2030 |  |  | 399 |  |  |  | (3 | )
Artifact Bidco, Inc. |  | Delayed Draw Term Loan |  | 7/27/2027 |  |  | 821 |  |  |  | (6 | )
Artifact Bidco, Inc. |  | Revolver |  | 7/26/2030 |  |  | 188 |  |  |  | (1 | )
Athenahealth Group Inc. |  | Revolver |  | 2/16/2027 |  |  | 100 |  |  |  | — |
Ave Holdings III, Corp |  | Revolver |  | 2/25/2028 |  |  | 514 |  |  |  | (6 | )
AWP Group Holdings, Inc. |  | Revolver |  | 12/23/2030 |  |  | 303 |  |  |  | (1 | )
Bamboo US BidCo LLC |  | Revolver |  | 10/1/2029 |  |  | 826 |  |  |  | (4 | )
Bamboo US BidCo LLC |  | Delayed Draw Term Loan |  | 3/29/2025 |  |  | 1,619 |  |  |  | (8 | )
BC Group Holdings, Inc. |  | Delayed Draw Term Loan |  | 12/21/2026 |  |  | 5,893 |  |  |  | (44 | )
BCPE North Star US Holdco 2, Inc. |  | Revolver |  | 6/10/2026 |  |  | 14 |  |  |  | (1 | )
Beyond Risk Parent Holdings, Inc. |  | Delayed Draw Term Loan |  | 4/9/2026 |  |  | 5,843 |  |  |  | (44 | )
Blackbird Purchaser, Inc. |  | Delayed Draw Term Loan |  | 12/19/2025 |  |  | 119 |  |  |  | — |
Blackbird Purchaser, Inc. |  | Revolver |  | 12/19/2029 |  |  | 93 |  |  |  | — |
Blackhawk Industrial Distribution, Inc. |  | Revolver |  | 9/17/2026 |  |  | 848 |  |  |  | (3 | )
Blackhawk Industrial Distribution, Inc. |  | Delayed Draw Term Loan |  | 5/13/2025 |  |  | 492 |  |  |  | (2 | )
Bracket Intermediate Holding Corp. |  | Revolver |  | 2/7/2028 |  |  | 100 |  |  |  | (2 | )
BradyPlus Holdings, LLC |  | Delayed Draw Term Loan |  | 11/1/2025 |  |  | 551 |  |  |  | (5 | )
Bridges Consumer Healthcare Intermediate LLC |  | Delayed Draw Term Loan |  | 12/21/2026 |  |  | 2,235 |  |  |  | (11 | )
Bridges Consumer Healthcare Intermediate LLC |  | Revolver |  | 12/22/2031 |  |  | 894 |  |  |  | (4 | )

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CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
BVI Medical, Inc. |  | Revolver |  | 8/28/2025 |  | $ | 14 |  |  | $ | — |
Carr, Riggs & Ingram Capital, L.L.C. |  | Revolver |  | 11/18/2031 |  |  | 583 |  |  |  | (3 | )
Carr, Riggs & Ingram Capital, L.L.C. |  | Delayed Draw Term Loan |  | 11/18/2026 |  |  | 1,458 |  |  |  | (7 | )
Cerity Partners Equity Holding LLC |  | Revolver |  | 7/28/2028 |  |  | 542 |  |  |  | — |
Cerity Partners Equity Holding LLC |  | Delayed Draw Term Loan |  | 6/7/2026 |  |  | 5,612 |  |  |  | — |
CFGI Holdings, LLC |  | Revolver |  | 11/2/2027 |  |  | 270 |  |  |  | (2 | )
CFs Brands, LLC |  | Delayed Draw Term Loan |  | 4/2/2025 |  |  | 169 |  |  |  | (2 | )
CFs Brands, LLC |  | Revolver |  | 10/2/2029 |  |  | 493 |  |  |  | (5 | )
Chg Ppc Parent LLC |  | Revolver |  | 12/8/2026 |  |  | 98 |  |  |  | (1 | )
Cloud Software Group, Inc. |  | Revolver |  | 12/15/2028 |  |  | 100 |  |  |  | — |
Cold Chain Technologies, LLC |  | Revolver |  | 7/2/2026 |  |  | 522 |  |  |  | (1 | )
Collision Sp Subco, LLC |  | Delayed Draw Term Loan |  | 1/30/2026 |  |  | 564 |  |  |  | — |
Collision Sp Subco, LLC |  | Revolver |  | 1/29/2030 |  |  | 271 |  |  |  | — |
Concord Global Acquisition, LLC, |  | Delayed Draw Term Loan |  | 12/28/2026 |  |  | 1,715 |  |  |  | (9 | )
Concord Global Acquisition, LLC, |  | Revolver |  | 12/26/2031 |  |  | 686 |  |  |  | (3 | )
Continental Buyer, Inc. |  | Delayed Draw Term Loan |  | 4/3/2026 |  |  | 1,911 |  |  |  | (27 | )
Continental Buyer, Inc. |  | Revolver |  | 4/2/2031 |  |  | 717 |  |  |  | (10 | )
CPC/Cirtec Holdings, Inc |  | Revolver |  | 10/31/2028 |  |  | 558 |  |  |  | (1 | )
CRCI Longhorn Holdings, Inc. |  | Delayed Draw Term Loan |  | 8/28/2026 |  |  | 1,530 |  |  |  | (2 | )
CRCI Longhorn Holdings, Inc. |  | Revolver |  | 8/27/2031 |  |  | 561 |  |  |  | (1 | )
Crisis Prevention Institute, Inc. |  | Revolver |  | 4/9/2029 |  |  | 100 |  |  |  | — |
Cub Financing Intermediate, LLC |  | Delayed Draw Term Loan |  | 6/28/2026 |  |  | 1,741 |  |  |  | (8 | )
CVP Holdco, Inc. |  | Delayed Draw Term Loan |  | 6/29/2026 |  |  | 1,715 |  |  |  | (4 | )
CVP Holdco, Inc. |  | Revolver |  | 6/28/2030 |  |  | 686 |  |  |  | (2 | )
DCert Buyer, Inc. |  | Revolver |  | 10/16/2026 |  |  | 100 |  |  |  | — |
DCG Acquisition Corp. |  | Delayed Draw Term Loan |  | 6/13/2026 |  |  | 1,169 |  |  |  | — |
DeLorean Purchaser, Inc. |  | Revolver |  | 12/16/2031 |  |  | 653 |  |  |  | (5 | )
Denali Buyerco LLC |  | Delayed Draw Term Loan |  | 3/6/2026 |  |  | 1,130 |  |  |  | (5 | )
Disa Holdings Corp. |  | Delayed Draw Term Loan |  | 3/1/2026 |  |  | 523 |  |  |  | (7 | )
DS Admiral Bidco, LLC |  | Revolver |  | 6/26/2029 |  |  | 77 |  |  |  | — |
DT Intermediate Holdco, Inc. |  | Delayed Draw Term Loan |  | 9/14/2026 |  |  | 1,658 |  |  |  | (12 | )
DT1 Midco Corp |  | Delayed Draw Term Loan |  | 12/30/2026 |  |  | 2,005 |  |  |  | (10 | )
DT1 Midco Corp |  | Revolver |  | 12/30/2030 |  |  | 802 |  |  |  | (4 | )
Dwyer Instruments, LLC |  | Revolver |  | 7/20/2029 |  |  | 706 |  |  |  | (7 | )
Dwyer Instruments, LLC |  | Delayed Draw Term Loan |  | 11/21/2026 |  |  | 505 |  |  |  | (5 | )
Eclipse Buyer, Inc. |  | Revolver |  | 9/6/2031 |  |  | 676 |  |  |  | (3 | )
Eclipse Buyer, Inc. |  | Delayed Draw Term Loan |  | 9/7/2026 |  |  | 1,333 |  |  |  | (7 | )
Edgeco Buyer, Inc. |  | Delayed Draw Term Loan |  | 12/20/2026 |  |  | 2,771 |  |  |  | (14 | )
Edgeco Buyer, Inc. |  | Revolver |  | 6/1/2028 |  |  | 304 |  |  |  | (2 | )

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
Edpo, LLC |  | Revolver |  | 12/8/2026 |  | $ | 53 |  |  | $ | — |
Empower Payments Investor, LLC |  | Revolver |  | 3/12/2030 |  |  | 163 |  |  |  | — |
Empower Payments Investor, LLC |  | Delayed Draw Term Loan |  | 3/12/2026 |  |  | 306 |  |  |  | — |
Empyrean Solutions, LLC |  | Revolver |  | 11/26/2031 |  |  | 207 |  |  |  | (1 | )
Empyrean Solutions, LLC |  | Delayed Draw Term Loan |  | 11/25/2026 |  |  | 553 |  |  |  | (3 | )
Ensemble RCM, LLC |  | Revolver |  | 6/27/2028 |  |  | 100 |  |  |  | — |
Enthusiast Auto Holdings, LLC |  | Revolver |  | 12/19/2026 |  |  | 64 |  |  |  | — |
Enverus Holdings, Inc. |  | Delayed Draw Term Loan |  | 12/22/2025 |  |  | 142 |  |  |  | — |
Enverus Holdings, Inc. |  | Revolver |  | 12/24/2029 |  |  | 207 |  |  |  | — |
Eos Fitness Opco Holdings, LLC |  | Revolver |  | 1/5/2028 |  |  | 384 |  |  |  | (1 | )
Eos Fitness Opco Holdings, LLC |  | Delayed Draw Term Loan |  | 9/25/2026 |  |  | 641 |  |  |  | (2 | )
Essential Services Holding Corporation |  | Revolver |  | 6/17/2030 |  |  | 247 |  |  |  | (1 | )
Essential Services Holding Corporation |  | Delayed Draw Term Loan |  | 6/17/2026 |  |  | 395 |  |  |  | (1 | )
Excelitas Technologies Corp. |  | Delayed Draw Term Loan |  | 5/1/2026 |  |  | 2,522 |  |  |  | (6 | )
Eyesouth Eye Care Holdco, LLC |  | Delayed Draw Term Loan |  | 4/1/2026 |  |  | 4,256 |  |  |  | (43 | )
Flint Opco, LLC |  | Delayed Draw Term Loan |  | 6/1/2026 |  |  | 2,093 |  |  |  | — |
Flow Control Solutions, Inc. |  | Revolver |  | 3/31/2029 |  |  | 936 |  |  |  | (7 | )
Flow Control Solutions, Inc. |  | Delayed Draw Term Loan |  | 6/28/2026 |  |  | 5,129 |  |  |  | (35 | )
Foreside Financial Group, LLC |  | Delayed Draw Term Loan |  | 3/13/2026 |  |  | 11,650 |  |  |  | — |
Formulations Parent Corporation |  | Revolver |  | 11/15/2029 |  |  | 100 |  |  |  | — |
FR Vision Holdings Inc |  | Revolver |  | 1/22/2030 |  |  | 248 |  |  |  | — |
FR Vision Holdings Inc |  | Delayed Draw Term Loan |  | 1/20/2026 |  |  | 572 |  |  |  | — |
Grant Thornton Advisors LLC |  | Delayed Draw Term Loan |  | 6/2/2031 |  |  | 147 |  |  |  | — |
Ground Penetrating Radar Systems, LLC |  | Delayed Draw Term Loan |  | 4/3/2027 |  |  | 2,158 |  |  |  | — |
Ground Penetrating Radar Systems, LLC |  | Revolver |  | 4/2/2031 |  |  | 1,007 |  |  |  | — |
GS Acquisitionco, Inc. |  | Delayed Draw Term Loan |  | 3/26/2026 |  |  | 156 |  |  |  | — |
GSV Holding, LLC |  | Revolver |  | 10/18/2030 |  |  | 217 |  |  |  | (1 | )
Harvey Tool Company, LLC |  | Revolver |  | 10/26/2027 |  |  | 964 |  |  |  | (2 | )
Harvey Tool Company, LLC |  | Delayed Draw Term Loan |  | 6/28/2026 |  |  | 3,213 |  |  |  | (7 | )
Health Buyer LLC |  | Delayed Draw Term Loan |  | 5/15/2026 |  |  | 2,643 |  |  |  | (12 | )
HeartLand PPC Buyer, LLC |  | Delayed Draw Term Loan |  | 12/13/2025 |  |  | 328 |  |  |  | (1 | )
HeartLand PPC Buyer, LLC |  | Revolver |  | 12/12/2029 |  |  | 265 |  |  |  | (1 | )
Heights Buyer, LLC |  | Delayed Draw Term Loan |  | 8/26/2025 |  |  | 874 |  |  |  | — |
Heights Buyer, LLC |  | Revolver |  | 8/25/2028 |  |  | 764 |  |  |  | — |
Hercules Borrower LLC |  | Revolver |  | 12/15/2026 |  |  | 459 |  |  |  | — |
Highline Aftermarket Acquisition, LLC |  | Revolver |  | 8/10/2027 |  |  | 100 |  |  |  | — |
HighTower Holding, LLC |  | Revolver |  | 10/21/2027 |  |  | 100 |  |  |  | — |
HP RSS Buyer, Inc. |  | Delayed Draw Term Loan |  | 3/12/2026 |  |  | 2,534 |  |  |  | (44 | )
HSI Halo Acquisition Inc. |  | Delayed Draw Term Loan |  | 6/28/2026 |  |  | 1,155 |  |  |  | (3 | )

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CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
HSI Halo Acquisition Inc. |  | Revolver |  | 6/28/2030 |  | $ | 932 |  |  | $ | (2 | )
HT Intermediary III, Inc. |  | Revolver |  | 11/12/2030 |  |  | 496 |  |  |  | (2 | )
HT Intermediary III, Inc. |  | Delayed Draw Term Loan |  | 11/13/2026 |  |  | 1,527 |  |  |  | (7 | )
Hydraulic Technologies USA LLC |  | Revolver |  | 6/3/2030 |  |  | 98 |  |  |  | (1 | )
IG Investments Holdings, LLC |  | Revolver |  | 9/22/2028 |  |  | 293 |  |  |  | (1 | )
ImageFirst Holdings, LLC |  | Revolver |  | 4/27/2028 |  |  | 80 |  |  |  | — |
Imagine 360 LLC |  | Revolver |  | 9/30/2028 |  |  | 327 |  |  |  | (2 | )
Imagine 360 LLC |  | Delayed Draw Term Loan |  | 9/20/2026 |  |  | 767 |  |  |  | (4 | )
IMO Investor Holdings, Inc. |  | Revolver |  | 5/11/2028 |  |  | 359 |  |  |  | — |
Innovetive Petcare, Inc. |  | Delayed Draw Term Loan |  | 11/19/2026 |  |  | 1,877 |  |  |  | (23 | )
Integrated Power Services Holdings, Inc. |  | Delayed Draw Term Loan |  | 5/7/2026 |  |  | 7,978 |  |  |  | (16 | )
Invictus Buyer, LLC |  | Delayed Draw Term Loan |  | 6/4/2026 |  |  | 3,266 |  |  |  | — |
Invictus Buyer, LLC |  | Revolver |  | 6/3/2031 |  |  | 1,210 |  |  |  | — |
JHCC Holdings LLC |  | Revolver |  | 9/9/2027 |  |  | 84 |  |  |  | — |
KPA Parent Holdings, Inc. |  | Revolver |  | 7/17/2026 |  |  | 677 |  |  |  | — |
Kriv Acquisition Inc. |  | Delayed Draw Term Loan |  | 9/26/2026 |  |  | 1,338 |  |  |  | (7 | )
Kwol Acquisition, Inc. |  | Revolver |  | 12/12/2029 |  |  | 841 |  |  |  | (13 | )
Learfield Communications, LLC |  | Revolver |  | 12/31/2027 |  |  | 100 |  |  |  | — |
Lightbeam Bidco Inc |  | Revolver |  | 5/4/2029 |  |  | 491 |  |  |  | — |
Lightbeam Bidco Inc |  | Delayed Draw Term Loan |  | 5/7/2025 |  |  | 907 |  |  |  | — |
Marina Acquisition, Inc. |  | Revolver |  | 7/1/2030 |  |  | 307 |  |  |  | (3 | )
Mclarens Midco Inc. |  | Delayed Draw Term Loan |  | 12/19/2025 |  |  | 592 |  |  |  | — |
MDC Interior Acquisition Inc |  | Revolver |  | 4/26/2030 |  |  | 42 |  |  |  | — |
Merlin Buyer, Inc. |  | Revolver |  | 12/14/2026 |  |  | 1,450 |  |  |  | (15 | )
Minotaur Acquisition, Inc. |  | Delayed Draw Term Loan |  | 6/4/2026 |  |  | 1,455 |  |  |  | (10 | )
Minotaur Acquisition, Inc. |  | Revolver |  | 6/3/2030 |  |  | 873 |  |  |  | (6 | )
Monotype Imaging Holdings Inc. |  | Revolver |  | 2/28/2030 |  |  | 154 |  |  |  | — |
Monotype Imaging Holdings Inc. |  | Delayed Draw Term Loan |  | 2/28/2026 |  |  | 79 |  |  |  | — |
Montana Buyer Inc. |  | Revolver |  | 7/22/2028 |  |  | 254 |  |  |  | — |
Movati Athletic (Group) Inc. |  | Delayed Draw Term Loan |  | 5/30/2026 |  |  | 638 |  |  |  | (5 | )
MRI Software LLC |  | Revolver |  | 2/10/2027 |  |  | 251 |  |  |  | 1 |
MRI Software LLC |  | Delayed Draw Term Loan |  | 8/27/2026 |  |  | 1,170 |  |  |  | 3 |
Nasuni Corporation |  | Revolver |  | 9/10/2030 |  |  | 1,302 |  |  |  | (9 | )
Navex Topco, Inc. |  | Revolver |  | 11/9/2028 |  |  | 1,797 |  |  |  | — |
Nelipak Holding Company |  | Revolver |  | 3/26/2031 |  |  | 1,076 |  |  |  | (16 | )
Nelipak Holding Company |  | Delayed Draw Term Loan |  | 3/29/2027 |  |  | 2,486 |  |  |  | (37 | )
Net Health Acquisition Corp. |  | Revolver |  | 7/3/2031 |  |  | 817 |  |  |  | — |
Noble Midco 3 Limited |  | Delayed Draw Term Loan |  | 6/12/2027 |  |  | 824 |  |  |  | (2 | )
Noble Midco 3 Limited |  | Revolver |  | 12/11/2030 |  |  | 1,120 |  |  |  | (3 | )

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CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
North Star Acquisitionco, LLC |  | Revolver |  | 5/3/2029 |  | $ | 780 |  |  | $ | — |
North Star Acquisitionco, LLC |  | Delayed Draw Term Loan |  | 5/1/2026 |  |  | 11 |  |  |  | — |
Oeconnection LLC |  | Delayed Draw Term Loan |  | 12/30/2026 |  |  | 2,138 |  |  |  | (4 | )
Oeconnection LLC |  | Delayed Draw Term Loan |  | 4/22/2026 |  |  | 771 |  |  |  | (1 | )
Oeconnection LLC |  | Revolver |  | 4/22/2031 |  |  | 482 |  |  |  | (1 | )
ONS MSO, LLC |  | Revolver |  | 7/8/2026 |  |  | 11 |  |  |  | — |
ONS MSO, LLC |  | Delayed Draw Term Loan |  | 12/13/2025 |  |  | 113 |  |  |  | — |
Onsite Holdings, LLC |  | Revolver |  | 12/28/2025 |  |  | 75 |  |  |  | — |
Onyx-Fire Protection Services Inc. |  | Revolver |  | 7/31/2031 |  |  | 1,494 |  |  |  | (7 | )
Onyx-Fire Protection Services Inc. |  | Delayed Draw Term Loan |  | 7/31/2026 |  |  | 946 |  |  |  | (5 | )
Packaging Coordinators Midco, Inc. |  | Revolver |  | 8/31/2027 |  |  | 100 |  |  |  | — |
Pareto Health Intermediate Holdings, Inc. |  | Delayed Draw Term Loan |  | 6/20/2026 |  |  | 653 |  |  |  | (3 | )
Pathstone Family Office LLC |  | Revolver |  | 5/15/2028 |  |  | 374 |  |  |  | (2 | )
Pathstone Family Office LLC |  | Delayed Draw Term Loan |  | 6/22/2026 |  |  | 1,454 |  |  |  | (7 | )
Patriot Growth Insurance Services, LLC |  | Revolver |  | 10/16/2028 |  |  | 267 |  |  |  | — |
Phantom Purchaser, Inc. |  | Revolver |  | 9/19/2031 |  |  | 382 |  |  |  | (1 | )
Phoenix 1 Buyer Corporation |  | Revolver |  | 11/20/2029 |  |  | 1,142 |  |  |  | — |
Potters Industries LLC |  | Revolver |  | 9/14/2027 |  |  | 94 |  |  |  | — |
Power Grid Holdings, Inc. |  | Revolver |  | 12/2/2030 |  |  | 890 |  |  |  | — |
Premise Health Holding Corp. |  | Revolver |  | 3/1/2030 |  |  | 712 |  |  |  | — |
Prism Parent Co. Inc. |  | Delayed Draw Term Loan |  | 9/19/2025 |  |  | 849 |  |  |  | (17 | )
Proampac PG Borrower LLC |  | Revolver |  | 6/16/2028 |  |  | 89 |  |  |  | — |
Project Accelerate Parent LLC |  | Revolver |  | 2/24/2031 |  |  | 100 |  |  |  | — |
Propio LS, LLC |  | Revolver |  | 7/17/2029 |  |  | 1,704 |  |  |  | (4 | )
Propio LS, LLC |  | Delayed Draw Term Loan |  | 7/25/2026 |  |  | 3,409 |  |  |  | (9 | )
Psc Parent, Inc. |  | Revolver |  | 4/3/2030 |  |  | 84 |  |  |  | — |
Psc Parent, Inc. |  | Delayed Draw Term Loan |  | 4/3/2025 |  |  | 389 |  |  |  | — |
Quality Automotive Services, LLC |  | Revolver |  | 7/16/2027 |  |  | 257 |  |  |  | (1 | )
Quality Automotive Services, LLC |  | Delayed Draw Term Loan |  | 1/19/2026 |  |  | 212 |  |  |  | (1 | )
Red Fox CD Acquisition Corporation |  | Delayed Draw Term Loan |  | 12/1/2025 |  |  | 3,963 |  |  |  | (30 | )
Resonetics, LLC |  | Revolver |  | 6/18/2029 |  |  | 100 |  |  |  | — |
Ridge Trail US Bidco, Inc. |  | Delayed Draw Term Loan |  | 3/31/2027 |  |  | 2,995 |  |  |  | (22 | )
Ridge Trail US Bidco, Inc. |  | Revolver |  | 3/31/2031 |  |  | 729 |  |  |  | (5 | )
Rimkus Consulting Group, Inc. |  | Revolver |  | 4/1/2030 |  |  | 1,201 |  |  |  | (6 | )
Rimkus Consulting Group, Inc. |  | Delayed Draw Term Loan |  | 4/1/2026 |  |  | 2,011 |  |  |  | (10 | )
Riser Interco LLC |  | Delayed Draw Term Loan |  | 6/5/2026 |  |  | 1,752 |  |  |  | (18 | )
Routeware, Inc. |  | Delayed Draw Term Loan |  | 9/19/2026 |  |  | 1,477 |  |  |  | (4 | )
Routeware, Inc. |  | Revolver |  | 9/18/2031 |  |  | 341 |  |  |  | (1 | )
Ruppert Landscape, LLC |  | Revolver |  | 12/1/2028 |  |  | 320 |  |  |  | (4 | )

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
Ruppert Landscape, LLC |  | Delayed Draw Term Loan |  | 4/30/2026 |  | $ | 4,009 |  |  | $ | (55 | )
Ryan, LLC |  | Revolver |  | 11/14/2028 |  |  | 94 |  |  |  | — |
Safety Borrower Holdings LLC |  | Revolver |  | 9/1/2027 |  |  | 374 |  |  |  | (2 | )
Sako and Partners Lower Holdings LLC. |  | Revolver |  | 9/15/2028 |  |  | 418 |  |  |  | (1 | )
Seahawk Bidco, LLC |  | Delayed Draw Term Loan |  | 12/19/2026 |  |  | 1,818 |  |  |  | (7 | )
Seahawk Bidco, LLC |  | Revolver |  | 12/19/2030 |  |  | 545 |  |  |  | (2 | )
Service Logic Acquisition, Inc. |  | Revolver |  | 4/30/2027 |  |  | 100 |  |  |  | — |
Simplicity Financial Marketing Group Holdings, Inc. |  | Delayed Draw Term Loan |  | 12/31/2026 |  |  | 1,805 |  |  |  | (9 | )
Simplicity Financial Marketing Group Holdings, Inc. |  | Revolver |  | 12/31/2031 |  |  | 903 |  |  |  | (5 | )
Southpaw Ap Buyer, LLC |  | Revolver |  | 3/2/2028 |  |  | 252 |  |  |  | — |
Southpaw Ap Buyer, LLC |  | Delayed Draw Term Loan |  | 5/1/2026 |  |  | 189 |  |  |  | — |
Spartan Bidco PTY LTD |  | Revolver |  | 1/24/2028 |  |  | 385 |  |  |  | (4 | )
Spirit RR Holdings, Inc. |  | Revolver |  | 9/13/2028 |  |  | 272 |  |  |  | (2 | )
Spirit RR Holdings, Inc. |  | Delayed Draw Term Loan |  | 12/19/2025 |  |  | 235 |  |  |  | (2 | )
St Athena Global LLC |  | Revolver |  | 6/26/2029 |  |  | 448 |  |  |  | (6 | )
St Athena Global LLC |  | Delayed Draw Term Loan |  | 6/26/2026 |  |  | 164 |  |  |  | (2 | )
STCH Acquisition Inc. |  | Revolver |  | 10/30/2026 |  |  | 196 |  |  |  | (1 | )
Storable, Inc. |  | Revolver |  | 4/16/2026 |  |  | 75 |  |  |  | — |
Sugar Ppc Buyer LLC |  | Delayed Draw Term Loan |  | 7/10/2026 |  |  | 6,800 |  |  |  | (34 | )
Surfaceprep Buyer, LLC |  | Delayed Draw Term Loan |  | 2/2/2026 |  |  | 150 |  |  |  | (2 | )
Surfaceprep Buyer, LLC |  | Revolver |  | 2/4/2030 |  |  | 317 |  |  |  | (4 | )
Team Acquisition Corporation |  | Revolver |  | 11/21/2028 |  |  | 100 |  |  |  | (4 | )
Tersera Therapeutics, LLC |  | Revolver |  | 4/4/2029 |  |  | 116 |  |  |  | — |
The Chartis Group, LLC |  | Delayed Draw Term Loan |  | 9/17/2026 |  |  | 388 |  |  |  | (2 | )
The Chartis Group, LLC |  | Revolver |  | 9/17/2031 |  |  | 194 |  |  |  | (1 | )
The GI Alliance Management, LLC |  | Delayed Draw Term Loan |  | 3/7/2026 |  |  | 6,536 |  |  |  | — |
The Hiller Companies, LLC |  | Revolver |  | 6/20/2030 |  |  | 1,299 |  |  |  | (3 | )
The Hiller Companies, LLC |  | Delayed Draw Term Loan |  | 6/22/2026 |  |  | 1,538 |  |  |  | (4 | )
The Ultimus Group Midco, LLC |  | Delayed Draw Term Loan |  | 3/8/2026 |  |  | 1,302 |  |  |  | — |
The Ultimus Group Midco, LLC |  | Revolver |  | 3/7/2030 |  |  | 868 |  |  |  | — |
THG Acquisition, LLC |  | Revolver |  | 10/31/2031 |  |  | 306 |  |  |  | (1 | )
THG Acquisition, LLC |  | Delayed Draw Term Loan |  | 10/30/2026 |  |  | 660 |  |  |  | (3 | )
TPC Engineering Holdings, Inc. |  | Revolver |  | 2/16/2027 |  |  | 148 |  |  |  | (2 | )
Trilon Group, LLC |  | Delayed Draw Term Loan |  | 10/16/2025 |  |  | 3,168 |  |  |  | (20 | )
Trilon Group, LLC |  | Revolver |  | 5/25/2029 |  |  | 1,061 |  |  |  | (7 | )
Trimech Acquisition Corp. |  | Revolver |  | 3/10/2028 |  |  | 1,457 |  |  |  | (15 | )
Trimech Acquisition Corp. |  | Delayed Draw Term Loan |  | 8/15/2026 |  |  | 2,480 |  |  |  | (25 | )
Truck-Lite Co., LLC |  | Delayed Draw Term Loan |  | 2/13/2026 |  |  | 176 |  |  |  | — |
Truck-Lite Co., LLC |  | Revolver |  | 2/13/2030 |  |  | 176 |  |  |  | — |

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ANTARES PRIVATE CREDIT FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)

December 31, 2024

(in thousands)

Investments—non-controlled/non-affiliated |  | Commitment Type |  | Commitment Expiration Date |  | Unfunded Commitment (1) |  |  | Fair Value (1) |
Trunk Acquisition, Inc. |  | Delayed Draw Term Loan |  | 12/20/2026 |  | $ | 1,845 |  |  | $ | (9 | )
US Fitness Holdings, LLC |  | Delayed Draw Term Loan |  | 9/4/2026 |  |  | 2,205 |  |  |  | (10 | )
US Fitness Holdings, LLC |  | Revolver |  | 9/4/2030 |  |  | 138 |  |  |  | (1 | )
USRP Holdings, Inc. |  | Revolver |  | 12/31/2029 |  |  | 900 |  |  |  | — |
USRP Holdings, Inc. |  | Delayed Draw Term Loan |  | 8/28/2026 |  |  | 2,773 |  |  |  | — |
Vaco Holdings, LLC |  | Revolver |  | 1/21/2027 |  |  | 100 |  |  |  | — |
Valet Waste Holdings, Inc. |  | Delayed Draw Term Loan |  | 9/8/2025 |  |  | 7,213 |  |  |  | — |
Valicor PPC Intermediate II LLC |  | Revolver |  | 1/24/2028 |  |  | 633 |  |  |  | (1 | )
Vensure Employer Services, Inc. |  | Delayed Draw Term Loan |  | 9/27/2026 |  |  | 476 |  |  |  | (2 | )
Vertex Service Partners, LLC |  | Delayed Draw Term Loan |  | 10/2/2026 |  |  | 245 |  |  |  | (1 | )
Vessco Midco Holdings, LLC |  | Delayed Draw Term Loan |  | 7/24/2026 |  |  | 1,220 |  |  |  | (6 | )
Vessco Midco Holdings, LLC |  | Revolver |  | 7/24/2031 |  |  | 552 |  |  |  | (3 | )
Victors Purchaser, LLC |  | Delayed Draw Term Loan |  | 8/15/2026 |  |  | 2,194 |  |  |  | (5 | )
Victors Purchaser, LLC |  | Revolver |  | 8/15/2031 |  |  | 1,065 |  |  |  | (3 | )
Victory Buyer LLC |  | Revolver |  | 11/19/2026 |  |  | 54 |  |  |  | (1 | )
Vital Care Buyer, LLC |  | Revolver |  | 7/30/2031 |  |  | 696 |  |  |  | (3 | )
VPP Intermediate Holdings, LLC |  | Revolver |  | 12/1/2027 |  |  | 228 |  |  |  | (1 | )
VPP Intermediate Holdings, LLC |  | Delayed Draw Term Loan |  | 2/7/2025 |  |  | 115 |  |  |  | — |
VS Buyer, LLC |  | Revolver |  | 4/12/2029 |  |  | 100 |  |  |  | — |
W2O Holdings, Inc. |  | Revolver |  | 6/12/2028 |  |  | 92 |  |  |  | — |
Walter Surface Technologies Inc. |  | Delayed Draw Term Loan |  | 12/30/2025 |  |  | 373 |  |  |  | — |
Wealth Enhancement Group, LLC |  | Revolver |  | 10/2/2028 |  |  | 323 |  |  |  | (2 | )
Wealth Enhancement Group, LLC |  | Delayed Draw Term Loan |  | 12/30/2026 |  |  | 9,677 |  |  |  | (69 | )
Wildcat Topco, Inc. |  | Revolver |  | 11/17/2031 |  |  | 270 |  |  |  | (1 | )
Wildcat Topco, Inc. |  | Delayed Draw Term Loan |  | 11/16/2026 |  |  | 270 |  |  |  | (1 | )
WPP Bullet Buyer, LLC |  | Revolver |  | 12/7/2029 |  |  | 18 |  |  |  | — |
WRE Holding Corp. |  | Delayed Draw Term Loan |  | 7/2/2026 |  |  | 415 |  |  |  | (2 | )
WRE Holding Corp. |  | Revolver |  | 7/2/2030 |  |  | 316 |  |  |  | (2 | )
Wu Holdco, Inc. |  | Revolver |  | 3/26/2027 |  |  | 238 |  |  |  | (1 | )
Wu Holdco, Inc. |  | Delayed Draw Term Loan |  | 7/12/2026 |  |  | 1,049 |  |  |  | (5 | )
YA Intermediate Holdings II, LLC |  | Revolver |  | 10/1/2031 |  |  | 1,030 |  |  |  | (5 | )
YA Intermediate Holdings II, LLC |  | Delayed Draw Term Loan |  | 10/2/2026 |  |  | 2,258 |  |  |  | (11 | )
YLG Holdings, Inc. |  | Revolver |  | 12/23/2030 |  |  | 1,214 |  |  |  | (6 | )
YLG Holdings, Inc. |  | Delayed Draw Term Loan |  | 12/23/2030 |  |  | 772 |  |  |  | (4 | )
Zelis Cost Management Buyer, Inc. |  | Revolver |  | 1/17/2029 |  |  | 100 |  |  |  | — |
Zinc Buyer Corporation |  | Delayed Draw Term Loan |  | 7/24/2026 |  |  | 1,613 |  |  |  | (12 | )
Zinc Buyer Corporation |  | Revolver |  | 7/24/2031 |  |  | 790 |  |  |  | (6 | )
Zone Climate Services, Inc. |  | Revolver |  | 3/9/2028 |  |  | 318 |  |  |  | (6 | )
Zone Climate Services, Inc. |  | Delayed Draw Term Loan |  | 11/22/2025 |  |  | 3,182 |  |  |  | (38 | )
Total Unfunded Commitments |  |  |  |  |  | $ | 290,998 |  |  | $ | (1,327 | )

(1)
Foreign domiciled investments have been converted to U.S. Dollars based on prevailing rates at period-end.

See accompanying notes to the consolidated financial statements.

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ANTARES PRIVATE CREDIT FUND

NOTES TO T HE CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(in thousands, except share/per share data, percentages and as otherwise noted)

Note 1. Business and Organization

Antares Private Credit Fund (the “Company”) is a Delaware statutory trust formed on May 1, 2023 which commenced investment operations on November 5, 2024. The Company was organized to provide risk-adjusted returns and current income to shareholders by investing primarily in loans to borrowers in the United States and Canada. The Company’s investment strategy focuses primarily on private credit investments structured as portfolio loans to U.S. borrowers. A “portfolio loan” is a senior secured loan, which may be first lien, second lien or unitranche loans, consisting of term loans, related delayed draw term loans and/or revolving loans. Each tranche of a senior secured loan acquired by the Company is referred to as a portfolio loan. The Company is a non-diversified, closed-end management investment company that has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). In addition, the Company has elected to be treated and intends to comply with the requirements to qualify annually, as a regulated investment company (“RIC”) under the Internal Revenue Code of 1986, as amended (the “Code”). The Company is externally managed by Antares Capital Credit Advisers LLC (the “Adviser”). The Adviser is a registered investment adviser with the U.S. Securities and Exchange Commission (the “SEC”).

The Company is a non-exchange traded, perpetual-life BDC, whose common shares of beneficial interest (“Common Shares”) are not listed for trading on a stock exchange or other securities market and is an investment vehicle with indefinite duration.

While the Company’s investment strategy primarily focuses on companies in the U.S., the Company intends to also invest in companies in Canada, Europe and other locations outside the U.S, subject to compliance with BDC requirements to invest at least 70% of assets in “eligible portfolio companies”. The Company may also invest in preferred equity or debt investments that may be accompanied by equity-related securities (such as options or warrants) and/or select common equity investments.

The Company’s investment strategy also includes a smaller allocation to more liquid credit investments such as broadly syndicated loans and corporate bonds, which may be used primarily to maintain liquidity for the Company’s share repurchase program and manage cash before investing subscription proceeds into originated loans, while also seeking attractive investment returns. The Company may also invest in publicly traded securities of larger corporate issuers on an opportunistic basis when market conditions create compelling potential return opportunities subject to compliance with BDC requirements.

The Company is currently offering on a continuous basis up to $2.0 billion of its Common Shares pursuant to an offering registered with the Securities and Exchange Commission (the “Offering”). The Company expects to offer to sell any combination of three classes of Common Shares, Class I shares, Class D shares, and Class S shares, with a dollar value up to the maximum offering amount. The share classes have different ongoing shareholder servicing and/or distribution fees. The initial purchase price for the Common Shares was $25.00 per share for Class I shares; no Class S or Class D shares have been issued as of September 30, 2025. Thereafter, the purchase price per share for each class of Common Shares will equal the net asset value (“NAV”) per share, as of the effective date of the monthly share purchase date. The Company may also engage in private offerings of its Common Shares.

The Company may enter into interest rate, foreign exchange, and/or other derivative arrangements to hedge against interest rate, currency, and/or other credit related risks through the use of futures, swaps, options and forward contracts. These hedging activities will be subject to the applicable legal and regulatory compliance requirements; however, there can be no assurance any hedging strategy employed will be successful. The Company may also seek to borrow capital in local currencies as a means of hedging non-U.S. dollar denominated investments.

Engaging in commodity interest transactions such as swap transactions or futures contracts for the Company may cause the Adviser to fall within the definition of “commodity pool operator” under the Commodity Exchange Act (the “CEA”) and related Commodity Futures Trading Commission (the “CFTC”) regulations. The Adviser has claimed an exclusion from the definition of the term “commodity pool operator” under the CEA and the CFTC regulations in connection with its management of the Company and, therefore, is not subject to CFTC registration or regulation under the CEA as a commodity pool operator with respect to its management of the Company.

The Company has formed wholly owned subsidiaries for the purpose of holding certain investments in portfolio companies. As of September 30, 2025, the Company’s wholly owned subsidiaries were formed as Delaware limited liability companies and include: APCF Funding SPV LLC, APCF Masterfund LLC and APCF Equity Holdings LLC (collectively, the “Subsidiaries”). The Company consolidates its wholly owned subsidiaries in these consolidated financial statements from the date of the commencement of operations of the Company.

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Note 2. Significant Accounting Policies

Basis of Presentation

Interim consolidated financial statements and related financial information have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the requirements for reporting on Form 10-Q and Articles 6-10 of Regulation S-X. The Company is considered an Investment Company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies in the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies (“ASC 946”), and pursuant to Regulation S-X. The current period’s results of operations will not necessarily be indicative of results that ultimately be achieved for the year ended December 31, 2025. In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for the fair statement of the consolidated financial statements for the periods presented, have been included.

Consolidation

As provided under ASC 946, the Company will not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the accounts of the wholly owned subsidiaries in the consolidated financial statements. All intercompany balances have been eliminated.

Segment Reporting

In accordance with ASC Topic 280, Segment Reporting (“ASC 280”), the Company has determined that it has a single operating and reporting segment. As a result, the Company’s segment accounting policies are the same as described herein and the Company does not have any intra-segment sales and transfers of assets.

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future economic and market conditions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Although the Company’s estimates contemplate current conditions and how they expect them to change in the future, it is reasonably possible that actual results could differ from those estimates and such difference could be material.

Cash and Cash Equivalents

Cash and cash equivalents consist of demand deposits and are carried at cost, which approximates fair value. The Company deposits its cash and cash equivalents with financial institutions and, at times, may exceed the Federal Deposit Insurance Corporation insured limit. The Company has made a prospective presentation change to reclassify money market fund investments as short-term investments, resulting in their exclusion from cash and cash equivalents beginning in the reporting period ended June 30, 2025.

Organization and Offering Expenses

Organization costs include costs relating to the formation and organization of the Company, and are expensed as incurred. For the three and nine months ended September 30, 2025, the Company incurred $0 and $119 in organization costs, respectively. For the three and nine months ended September 30, 2024, the Company incurred $113 and $161 in organization costs, respectively. Unreimbursed organization costs are included in accrued expenses and other liabilities on the Consolidated Statements of Assets and Liabilities as of September 30, 2025 and December 31, 2024.

Costs associated with the Offering are capitalized and included as deferred offering costs on the Consolidated Statements of Assets and Liabilities and are amortized over a twelve-month period beginning on the commencement of operations date, from the date of incurrence. For the three and nine months ended September 30, 2025, the Company incurred $54 and $941 of offering costs and amortized $513 and $1,457, respectively. For the three and nine months ended September 30, 2024, the Company incurred $30 and $299 of offering costs, respectively, and did not amortize offering costs.

As of September 30, 2025 and December 31, 2024, $428 and $943, resp ectively, in deferred offering costs were included on the Consolidated Statements of Assets and Liabilities.

Investments

Investment transactions are recorded on the trade date. Realized gains or losses are measured by the difference between the net proceeds received (excluding prepayment fees, if any) and the amortized cost basis of the investment using the specific identification method without regard to unrealized gains or losses previously recognized, and include investments charged off during the period, net of recoveries. The net change in unrealized gains or losses primarily reflects the change in investment values, including the reversal of previously recorded unrealized gains or losses with respect to investments realized during the period.

Short-term investments

Short-term investments consist of highly liquid investments, such as money market funds, with original maturities of three months or less. This presentation change was adopted beginning in the reporting period ended June 30, 2025.

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Valuation of Investments

The Company is required to report its investments for which current market values are not readily available at fair value. The Company values its investments in accordance with ASC Topic 820, Fair Value Measurement (“ASC 820”), which defines fair value as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the applicable measurement date. ASC 820 prioritizes the use of observable market prices derived from such prices over entity-specific inputs. Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material.

Investments for which market quotations are readily available are typically valued using mid-market pricing (i.e., mid-point of average bid and ask prices). The Adviser obtains these market quotations from independent pricing services, if available; otherwise from at least two principal market makers or primary market dealers. To assess the continuing appropriateness of pricing sources and methodologies, the Adviser performs, from time to time, price verification procedures and issues challenges as necessary to independent pricing services or brokers, and any differences are reviewed in accordance with the valuation procedures. The Adviser does not adjust the prices unless it has a reason to believe market quotations are not reflective of the fair value of an investment.

Where prices or inputs are not available, or, in the judgment of the Adviser, not reliable, valuation approaches based on the facts and circumstances of the particular investment are utilized. Securities that are not publicly traded or for which market prices are not readily available, as the case for a substantial portion of the Company’s investments, are valued at fair value as determined in good faith by the Adviser as the Company’s valuation designee under Rule 2a-5 under the 1940 Act, pursuant to the Company’s valuation policy, and under the oversight of the Board of Trustees (the “Board”), based on, among other things, the input of the Company’s management and the audit committee. In addition, the Adviser has retained independent valuation firms to review valuations on a rotational basis. These valuation approaches involve some level of management estimation and judgment, the degree of which is dependent on the price transparency for the investments or market and the investments’ complexity.

With respect to investments for which market quotations are not readily available, the Adviser undertakes a multi-step valuation process each quarter, among other procedures, as described below:

•
The valuation process begins with each investment being preliminarily reviewed by the Adviser’s valuation team in consultation with the Adviser’s investment professionals responsible for each portfolio investment;
•
At least once annually the valuation for each investment (subject to a de minimis threshold) is reviewed by an independent valuation firm. The independent valuation firms provide a final range of values on such investments to the Adviser. The independent valuation firms also provide analyses to support their valuation methodology and calculations;
•
The Adviser’s valuation committee with respect to the Company (the “Valuation Committee”) reviews each valuation recommendation to confirm they have been calculated in accordance with the valuation policy and confirms the independent valuation firms’ valuation ranges when utilized are reasonable;
•
The Adviser’s Valuation Committee then determines fair value marks for each of the Company’s portfolio investments; and
•
The Board and audit committee of the Company periodically review the valuation process and provide oversight in accordance with the requirements of Rule 2a-5 under the 1940 Act.

As part of the valuation process, the Company takes into account relevant factors in determining the fair value of the Company’s investments for which reliable market quotations are not readily available, many of which are loans, including and in combination, as relevant, any of: (i) the estimated enterprise value of a portfolio company, generally based on an analysis of discounted cash flows, publicly traded comparable companies and comparable transactions, (ii) the nature and realizable value of any collateral, (iii) the portfolio company’s ability to make payments based on its earnings and cash flow, (iv) the markets in which the portfolio company does business, and (v) overall changes in the interest rate environment and the credit markets that may affect the price at which similar investments may be made in the future. When an external event such as a purchase transaction, public offering or subsequent equity or debt sale occurs, the Adviser considers whether the pricing indicated by the external event corroborates its valuation.

The Company’s accounting policy on the fair value of the investments is critical because the determination of fair value involves subjective judgments and estimates. Accordingly, the Company’s consolidated financial statements express the uncertainty with respect to the possible effect of these valuations, and any change in these valuations, on the consolidated financial statements.

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Revenue Recognition

The Company generates revenue in the form of interest and fee income on debt investments, capital gains, and dividend income from equity investments in portfolio companies. The senior and subordinated debt investments bear interest at a fixed or floating rate, and is generally payable quarterly or semiannually. In some cases, some of the Company's investments provide for deferred interest payments or payment-in-kind (“PIK”) interest. The principal amount of the debt investments and any accrued but unpaid PIK interest generally become due at the maturity date. Original issue discounts and market discounts or premiums are capitalized, and the Company accretes or amortizes such amounts as interest income. In addition, the Company generates revenue from various fees in the ordinary course of business such as in the form of structuring, consent, waiver, amendment, syndication and other miscellaneous fees.

Interest Income

Interest income is recorded on an accrual basis and includes the accretion of discounts and amortization of premiums. Discounts from and premiums to par value on debt investments purchased are accreted/amortized into interest income over the life of the debt investments using the effective interest method. The amortized cost of debt investments represents the original cost, including loan origination fees and upfront fees received that are deemed to be an adjustment to yield, adjusted for the accretion of discounts and amortization of premiums, if any. Upon prepayment of a loan or debt investment, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income, in the current period.

Dividend Income

Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for portfolio companies or on the ex-dividend date for publicly-traded portfolio companies.

PIK Income

The Company may have loans in its portfolio that contain PIK provisions. PIK represents interest that is accrued and recorded at the contractual rates, increases the loan principal on the respective capitalization dates, and is generally due at maturity. Such income is included in payment-in-kind interest income on the Consolidated Statements of Operations. If at any point the Company believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest is generally reversed through payment-in-kind interest income. To maintain the Company’s status as a RIC, this non-cash source of income must be paid out to shareholders in the form of distributions, even though the Company has not yet collected cash.

Fee Income

The Company may receive various fees in the ordinary course of business such as structuring, consent, waiver, amendment, syndication fees as well as fees for managerial assistance rendered by the Company to the portfolio companies. Such fees are recognized as income when earned or the services are rendered.

Non-Accrual Income

Loans are generally placed on non-accrual status when there is reasonable doubt that principal or interest will be collected in full. Accrued interest is generally reversed when a loan is placed on non-accrual status. Additionally, any original issue discount and market discount are no longer accreted to interest income as of the date the loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability. Non-accrual loans are restored to accrual status when past due principal and interest is paid current and, in management’s judgment, are likely to remain current. Management may make exceptions to this treatment and determine to not place a loan on non-accrual status if the loan has sufficient collateral value and is in the process of collection.

Deferred Financing Costs

Deferred financing costs represent fees and other direct incremental costs incurred in connection with the Company’s borrowings. These expenses are deferred and amortized into interest expense over the life of the related debt instrument using the straight-line method. Deferred financing costs related to the Company’s borrowings are presented as an offset against the debt outstanding on the Consolidated Statements of Assets and Liabilities.

Foreign Currency Translations

The accounting records of the Company are maintained in U.S. dollars. All assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the foreign exchange rate on the date of valuation. The Company does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. The Company’s investments in foreign securities may involve certain risks, including without limitation: foreign exchange restrictions, expropriation, taxation or other political, social or economic risks, all of which could affect the market and/or credit risk of the investment. In addition, changes in the relationship of foreign currencies to the U.S. dollar can significantly affect the value of these investments and therefore the earnings of the Company.

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Income Taxes

The Company has elected to be treated, and intends to qualify each taxable year thereafter, as a RIC under the Code. So long as the Company maintains its status as a RIC, it generally will not pay corporate-level U.S. federal income taxes on any ordinary income or capital gains that it distributes at least annually to its shareholders as dividends. Rather, any tax liability related to income earned and distributed by the Company would represent obligations of the Company’s shareholders and would not be reflected in the consolidated financial statements of the Company.

The Company evaluates tax positions taken or expected to be taken in the course of preparing its consolidated financial statements to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions not deemed to meet the “more- likely-than-not” threshold are reserved and recorded as a tax benefit or expense in the current year. All penalties and interest associated with income taxes are included in income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, on-going analyses of tax laws, regulations and interpretations thereof.

To maintain qualification as a RIC, the Company must, among other things, meet certain source-of-income and asset diversification requirements. In addition, to maintain qualification for RIC tax treatment, the Company must distribute to its shareholders, for each taxable year, at least 90% of the sum of (i) its “investment company taxable income” for that year (without regard to the deduction for dividends paid), which is generally its ordinary income plus the excess, if any, of its realized net short-term capital gains over its realized net long-term capital losses and (ii) its net tax-exempt income.

In addition, pursuant to the excise tax distribution requirements, the Company will be subject to a 4% non-deductible federal excise tax on undistributed income unless the Company distributes in a timely manner in each taxable year an amount at least equal to the sum of (1) 98% of its ordinary income for the calendar year, (2) 98.2% of capital gain net income (both long-term and short-term) for the one-year period ending October 31 in that calendar year and (3) any income realized, but not distributed, in prior years. For this purpose, however, any ordinary income or capital gain net income retained by the Company that is subject to corporate income tax is considered to have been distributed.

Distributions

To the extent that the Company has taxable income available, the Company intends to make monthly distributions to its shareholders. Distributions to shareholders are recorded on the record date. All distributions will be paid at the discretion of the Board and will depend on the Company’s earnings, financial condition, maintenance of the Company’s tax treatment as a RIC, compliance with applicable BDC regulations and such other factors as the Board may deem relevant from time to time.

Distributions to shareholders by the Company of ordinary income (including “market discount” realized by the Company on the sale of debt securities), and of net short-term capital gains, if any, realized by the Company are generally taxable to U.S. shareholders as ordinary income to the extent such distributions are paid out of the Company’s current or accumulated earnings and profits. Distributions, if any, of net capital gains properly reported as “capital gain dividends” will be taxable as long-term capital gains, regardless of the length of time the shareholder has owned the Company’s shares. A distribution of an amount in excess of the Company’s current and accumulated earnings and profits (as determined for U.S. federal income tax purposes) will be treated by a shareholder as a return of capital which will be applied against and reduce the shareholder’s basis in his or her shares. To the extent that the amount of any such distribution exceeds the shareholder’s basis in his or her shares, the excess will be treated by the shareholder as gain from a sale or exchange of the shares. Distributions paid by the Company generally will not be eligible for the dividends received deduction allowed to corporations or for the reduced rates applicable to certain qualified dividend income received by non-corporate shareholders.

Distributions will be treated in the manner described above regardless of whether such distributions are paid in cash or invested in additional shares pursuant to the distribution reinvestment plan. Shareholders receiving distributions in the form of additional shares will generally be treated as receiving a distribution in the amount of the fair market value of the distributed shares. The additional shares received by a shareholder pursuant to the distribution reinvestment plan will have a new holding period commencing on the day following the day on which the shares were credited to the shareholder’s account.

The Company may elect to retain its net capital gain or a portion thereof for investment and be taxed at corporate rates on the amount retained. In such case, it may designate the retained amount as undistributed capital gains in a notice to its shareholders, who will be treated as if each received a distribution of its pro rata share of such gain, with the result that each shareholder will (i) be required to report its pro rata share of such gain on its tax return as long-term capital gain, (ii) receive a refundable tax credit for its pro rata share of tax paid by the Company on the gain and (iii) increase the tax basis for its shares by an amount equal to the deemed distribution less the tax credit.

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Recent Accounting Pronouncements

The Company considers the applicability and impact of all accounting standard updates (“ASU”) issued by the Financial Accounting Standards Board (the “FASB”).

In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 2200-40),” which requires disaggregated disclosure of certain costs and expenses, including purchases of inventory, employee compensation, depreciation, amortization and depletion, in each relevant expense caption. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption and retrospective application is permitted. The Company is currently assessing the impact of this guidance, however, the Company does not expect a material impact on its consolidated financial statements.

Other than the aforementioned guidance, the Company’s management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the accompanying consolidated financial statements.

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Note 3. Agreements and Related Party Transactions

Investment Advisory Agreement

On October 16, 2024, the Board approved an investment advisory agreement with the Adviser (“Investment Advisory Agreement”), pursuant to which the Adviser manages the Company on a day-to-day basis. Under the terms of the Investment Advisory Agreement, the Adviser is responsible for determining the composition of the Company’s portfolio, identifying investment opportunities and making investment decisions, monitoring investments, performing due diligence on prospective portfolio companies, and negotiating, obtaining and managing financing facilities and other forms of leverage.

The Company pays the Adviser fees for its services under the Investment Advisory Agreement. The fees consist of two components: a management fee and an incentive fee. The cost of both the management fee and the incentive fee are ultimately borne by the Company’s shareholders.

The Adviser agreed to waive all management and incentive fees through the first six months following the effective date of the Company’s registration statement on Form N-2, which was declared effective on February 12, 2025. As of August 13, 2025, coinciding with the end of the fee waiver period, the Company is responsible for the payment of management and incentive fees to the Adviser, pursuant to the terms of the Investment Advisory Agreement.

Management fees

The base management fee is payable monthly in arrears at an annu al rate of 1.25% of the Company’s net asset value as of the first business day of the applicable month. For the three and nine months ended September 30, 2025, the Company incurred management fees of $2,180 and $6,184, respectively, before impact of waived fees. For the three and nine months ended September 30, 2025, the Adviser elected to waive $1,005 and $5,009, respectively, resulting in $1,175 in management fees net of waiver for both periods. For both the three and nine months ended September 30, 2024, no management fees were accrued as the Company had not yet commenced operations.

Incentive fee

The incentive fee consists of two components that are independent of each other, with the result that one component may be payable even if the other is not. A portion of the incentive fee is based on a percentage of income and a portion is based on a percentage of capital gains, each described below.

Investment income incentive fee

The investment income based incentive fee is based on “Pre-Incentive Fee Net Investment Income Returns” meaning dividends, cash interest or other distributions or other cash income and any third-party fees received from portfolio companies (such as upfront fees, commitment fees, origination fees, amendment fees, ticking fees and break-up fees, as well as prepayments premiums, but excluding fees for providing managerial assistance and fees earned by the Adviser or an affiliate in its capacity as an administrative agent, syndication agent, collateral agent, loan servicer or other similar capacity) accrued during the month, minus operating expenses for the month (including the management fee, taxes, any expenses payable under the Investment Advisory Agreement and Administration Agreement (as defined below), any expense of securitizations, and interest expense or other financing fees and any dividends paid on preferred shares, but excluding the incentive fee and shareholder servicing and /or distribution fees). Pre-Incentive Fee Net Investment Income Returns includes, in the case of investments with a deferred interest feature (such as original issue discount, debt instruments with PIK interest and zero-coupon securities), accrued income that has not yet been received in cash. Pre-Incentive Fee Net Investment Income Returns do not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation. The impact of expense support payments and recoupments are also excluded from Pre-Incentive Fee Net Investment Income Returns.

Pre-Incentive Fee Net Investment Income Returns, expressed as a rate of return on the value of net assets at the end of the preceding quarter, is compared to a “hurdle rate” of return of 1.50% per quarter (6.0% annualized). The Company pays an incentive fee quarterly as follows:

•
No investment income incentive fee based on Pre-Incentive Fee Net Investment Income Returns in any calendar quarter in which the Pre-Incentive Fee Net Investment Income Returns does not exceed the hurdle rate of 1.50% per quarter (6.0% annualized).
•
100% of the dollar amount of the Pre-Incentive Fee Net Investment Income Returns with respect to that portion of such Pre-Incentive Fee Net Investment Income Returns, if any, that exceeds the hurdle rate but is less than a rate of return of 1.71% (6.86% annualized).
•
12.5% of the dollar amount of the Pre-Incentive Fee Net Investment Income Returns, if any, that exceed a rate of return of 1.71% (6.86% annualized).

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Capital gains incentive fee

The second component of the incentive fee, the capital gains incentive fee, is payable at the end of each calendar year in arrears. The amount payable is equal to 12.5% of cumulative realized capital gains from inception through the end of such calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid capital gains incentive fee as calculated in accordance with U.S. GAAP. U.S. GAAP requires that the capital gains incentive fee accrual consider the cumulative aggregate unrealized capital appreciation in the calculation, as a capital gains incentive fee would be payable if such unrealized capital appreciation were realized, even though such unrealized capital appreciation is not permitted to be considered in calculating the fee actually payable under the investment advisory agreement. Such accrual is calculated using the aggregate cumulative realized capital gains and losses and aggregate cumulative unrealized capital depreciation included in the calculation of the capital gains incentive fee plus the aggregate cumulative unrealized capital appreciation, net of any expense associated with cumulative unrealized capital depreciation or appreciation. If such amount is positive at the end of a period, then U.S. GAAP requires the Company to record a capital gains incentive fee equal to 12.5% of such cumulative amount, less the aggregate amount of actual capital gains incentive fees paid or capital gains incentive fees accrued under U.S. GAAP in all prior periods. Gross capital gains incentive fee is net of reversal on accrued capital gains incentive fees.

For purposes of computing the Company’s investment income incentive fee and capital gains incentive fee, the calculation methodology looks through derivative financial instruments or swaps as if the Company owned the reference assets directly. The fees that are payable under the Investment Advisory Agreement for any partial period are appropriately prorated.

For the three and nine months ended September 30, 2025, the Company incurred income based incentive fees of $2,366 and $7,034, respectively, and did not incur capital gains incentive fees during the period. For the three and nine months ended September 30, 2025, the Adviser agreed to waive $1,143 and $5,811 in total incentive fees, respectively, resulting in $1,223 incentive fees payable for both periods. For both the three and nine months ended September 30, 2024, no incentive fees were accrued as the Company had not yet commenced operations.

Licensing Agreement

As part of the Investment Advisory Agreement, the Adviser, on behalf of Antares Holdings LLC, agreed to grant the Company a fully paid- up, royalty-free, non-exclusive, non-transferable license to use “Antares” for specified purposes in the Company’s business, during the term of the Investment Advisory Agreement. Other than with respect to this limited license, the Company will have no legal right to the “Antares” name.

Administration Agreement

On October 16, 2024, the Board approved the administration agreement (the “Administration Agreement”) with Antares Capital Credit Advisers LLC (in such role, the “Administrator”). Under the terms of the Administration Agreement, the Administrator provides, or oversees the performance of, administrative and compliance services, including, but not limited to, maintaining financial records, overseeing the calculation of net asset value, compliance monitoring (including diligence and oversight of the Company’s other service providers), preparing reports to shareholders and reports filed with the SEC, preparing materials and coordinating meetings of the Company’s Board, managing the payment of expenses and the performance of administrative and professional services rendered by others and providing office space, equipment and office services.

The Company reimburses the Administrator for its costs, expenses and allocable portion of overhead (including compensation of personnel performing administrative duties) in connection with the services performed for the Company pursuant to the terms of the Administration Agreement. For the three and nine months ended September 30, 2025, the Company incurred administrative service fees of $190 and $522, respectively. For both the three and nine months ended September 30, 2024, no administrative service fees were accrued as the Company had not yet commenced operations.

Sub-administration Agreement

In addition, pursuant to the terms of the Administration Agreement, the Administrator may delegate its obligations under the Administration Agreement to an affiliate or to a third party and the Company reimburses the Administrator for any services performed for the Company by such affiliate or third party.

The Administrator hired U.S. Bancorp Fund Services, LLC to assist with sub-administration and fund accounting services.

Acquisition of Seed Portfolio

On November 5, 2024, the Company acquired 100% of the equity interests in APCF Masterfund LLC and APCF Funding SPV LLC (the “Subsidiaries”) from certain affiliates of the Adviser, valued at an acquisition price of $33,889 and $341,218, respectively.

For the nine months ended September 30, 2025, the Company paid the Adviser $2,409 in connection with the acquisition price of APCF Masterfund LLC, and received $2,195 from the Adviser in connection with the acquisition price of APCF Funding SPV LLC.

For the three months ended September 30, 2025, there were no outstanding balances nor payments made in connection with the acquisition of APCF Masterfund LLC and APCF Funding SPV LLC.

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Distribution and Servicing Plan

On October 16, 2024, the Board approved a distribution and servicing plan (the “Distribution and Servicing Plan”). The following table shows the shareholder servicing and/or distribution fees the Company pays Quasar Distributors LLC (the “Managing Dealer”) with respect to the Class I, Class S and Class D on an annualized basis as a percentage of NAV for such class. The Managing Dealer is a broker-dealer registered with the SEC and is a member of the Financial Industry Regulatory Authority ("FINRA").

| Shareholder Servicing and/or Distribution Fee as a % of NAV |
Class I shares | N/A |
Class S shares | 0.85 | %
Class D shares | 0.25 | %

The shareholder servicing and/or distribution fees are paid monthly in arrears, calculated using the NAV of the applicable class as of the beginning of the first calendar day of the month and subject to FINRA and other limitations on underwriting compensation. As of September 30, 2025, no Class S shares or Class D shares have been issued.

Expense Support Agreement

On October 16, 2024, the Board approved an Expense Support and Conditional Reimbursement Agreement (the “Expense Support Agreement”) with the Adviser. Pursuant to the Expense Support Agreement, the Adviser is obligated to advance all of the Company’s Other Operating Expenses (defined below) (each, a “Required Expense Payment”) to the extent that such expenses do not exceed 1.00% (on an annualized basis) of the Company’s NAV. Any Required Expense Payment must be paid by the Adviser to the Company in any combination of cash or other immediately available funds and/or offset against amounts due from the Company to the Adviser or its affiliates. The Adviser may elect to pay certain additional expenses on the Company’s behalf (each, a “Voluntary Expense Payment” and together with a Required Expense Payment, the “Expense Payments”), provided that no portion of the payment will be used to pay any interest expense of the Company. Any Voluntary Expense Payment that the Adviser has committed to pay must be paid by the Adviser to the Company in any combination of cash or other immediately available funds no later than forty-five (45) days after such commitment was made in writing, and/or offset against amounts due from the Company to the Adviser or its affiliates. “Other Operating Expenses” means the Company’s total organization and offering expenses, professional fees, trustee fees, administration fees, and other general and administrative expenses (including the Company’s allocable portion of compensation (including salaries, bonuses and benefits), overhead (including rent, office equipment and utilities) and other expenses incurred by the Administrator in performing its administrative obligations under the Administration Agreement), excluding the Management Fee and Incentive Fee owed to the Adviser, financing fees and costs, brokerage commissions, placement agent fees, costs and expenses of distributing and placing the Common Shares, extraordinary expenses and any interest expenses owed by the Company, all as determined in accordance with GAAP.

Following any calendar month in which Available Operating Funds (as defined below) exceed the cumulative distributions accrued to the Company’s shareholders based on distributions declared with respect to record dates occurring in such calendar month (the amount of such excess being hereinafter referred to as “Excess Operating Funds”), the Company shall pay such Excess Operating Funds, or a portion thereof, to the Adviser until such time as all Expense Payments made by the Adviser to the Company within three years prior to the last business day of such calendar month have been reimbursed. Any payments required to be made by the Company shall be referred to herein as a “Reimbursement Payment.” “Available Operating Funds” means the sum of (i) the Company's net investment company taxable income (including net short-term capital gains reduced by net long-term capital losses), (ii) the Company's net capital gains (including the excess of net long-term capital gains over net short-term capital losses) and (iii) dividends and other distributions paid to the Company on account of investments in portfolio companies (to the extent such amounts listed in clause (iii) are not included under clauses (i) and (ii) above).

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No Reimbursement Payment for any month shall be made if: (1) the Effective Rate of Distributions Per Share declared by the Company at the time of such Reimbursement Payment is less than the Effective Rate of Distributions Per Share at the time the Expense Payment was made to which such Reimbursement Payment relates, (2) the Company’s Operating Expense Ratio at the time of such Reimbursement Payment is greater than the Operating Expense Ratio at the time the Expense Payment was made to which such Reimbursement Payment relate, or (3) the Company’s Other Operating Expenses at the time of such Reimbursement Payment exceeds 1.00% of the Company’s net asset value. “Effective Rate of Distributions Per Share” means the annualized rate (based on a 365 day year) of regular cash distributions per share exclusive of returns of capital, distribution rate reductions due to distribution and shareholder servicing fees, and declared special dividends or special distributions, if any. The “Operating Expense Ratio” is calculated by dividing Operating Expenses, less organizational and offering expenses, base management and incentive fees owed to the Adviser, shareholder servicing and/or distribution fees, and interest expense, by the Company’s net assets. “Operating Expenses” means all of the Company’s operating costs and expenses incurred, as determined in accordance with generally accepted accounting principles for investment companies.

The Company’s obligation to make a Reimbursement Payment shall automatically become a liability of the Company on the last business day of the applicable calendar month, except to the extent the Adviser has waived its right to receive such payment for the applicable month. In addition, effective October 31, 2024, the Company and the Adviser entered into a waiver letter agreement (the “Waiver Letter Agreement”), pursuant to which the Adviser agreed to waive any reimbursement by the Company for any of the Company’s organization expenses, operating expenses and offering expenses the Adviser incurs or has incurred on the Company’s behalf in an aggregate amount not to exceed $2 million. The Waiver Letter Agreement includes reimbursement provisions substantially similar to the reimbursement provisions included in the Expense Support Agreement.

For the three and nine months ended September 30, 2025, the Company accrued organization and offering costs of $512 and $1,575, and the Adviser waived $35 and $683 in expenses pursuant to the Expense Support Agreement, resulting in $477 and $892 organization and offering costs incurred by the Company on a net basis, respectively.

For the three and nine months ended September 30, 2024, the Company accrued organization and offering costs of $113 and $161, and the Adviser waived $113 and $161 in expenses pursuant to the Expense Support Agreement, resulting in $0 and $0 organization and offering costs on a net basis, respectively.

For the three and nine months ended September 30, 2025 and 2024, no Reimbursement Payments were made by the Company to the Adviser.

Co-Investment Activity

The Company, the Adviser and certain of its affiliates received an exemptive order from the SEC on April 2, 2024 (the “Current Order”) that permits, among other things, the Company to co-invest with certain other persons, including certain affiliates of the Adviser and certain funds managed and controlled by the Adviser and its affiliates, subject to certain terms and conditions. Certain types of negotiated co-investments may be made only in accordance with the Current Order from the SEC permitting the Company to do so. Under the terms of the Current Order, a “required majority” (as defined in Section 57(o) of the 1940 Act) of the Company’s independent trustees must be able to reach certain conclusions in connection with a co-investment transaction, including that (1) the terms of the proposed transaction are reasonable and fair to the Company and its shareholders and do not involve overreaching of the Company or its shareholders on the part of any person concerned, and (2) the transaction is consistent with the interests of the Company’s shareholders and is consistent with the Company’s Board of Trustees’ approved criteria. In certain situations where co-investment with one or more funds managed by the Adviser or its affiliates is not covered by the Current Order, the personnel of the Adviser or its affiliates will need to decide which fund will proceed with the investment. Such personnel will make these determinations based on allocation policies and procedures, which are designed to reasonably ensure that investment opportunities are allocated fairly and equitably among affiliated funds over time and in a manner that is consistent with applicable laws, rules and regulations. The Current Order is subject to certain terms and conditions so there can be no assurance that the Company will be permitted to co-invest with certain of the Company’s affiliates other than in the circumstances currently permitted by regulatory guidance and the Current Order. The Company and the Adviser have filed an application seeking, but have not yet received, a new SEC exemptive order for simplified co-investment relief (the “New Order”) that would supersede the Current Order. There is no assurance that the New Order will be granted by the SEC. In the event that the SEC grants us the New Order, we shall be required to comply with all terms and conditions required therein.

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Note 4. Investments

The composition of the Company’s investment portfolio at amortized cost and fair value was as follows:

|  | September 30, 2025 |  |  |  | December 31, 2024 |  |
|  | Amortized Cost |  |  | Fair Value |  |  | % of Total Investments at Fair Value |  |  |  | Amortized Cost |  |  | Fair Value |  |  | % of Total Investments at Fair Value |  |
Secured Debt |  | $ | 1,377,503 |  |  | $ | 1,374,990 |  |  |  | 96.64 |  | % |  | $ | 845,082 |  |  | $ | 843,710 |  |  |  | 99.45 |  | %
Unsecured Debt |  |  | 793 |  |  |  | 783 |  |  |  | 0.06 |  |  |  |  | 713 |  |  |  | 703 |  |  |  | 0.08 |  |
Equity Investments |  |  | 17,534 |  |  |  | 17,985 |  |  |  | 1.26 |  |  |  |  | 3,947 |  |  |  | 3,947 |  |  |  | 0.47 |  |
Short-Term Investments (1) |  |  | 29,010 |  |  |  | 29,010 |  |  |  | 2.04 |  |  |  |  | — |  |  |  | — |  |  |  | — |  |
Total Investments at fair value |  | $ | 1,424,840 |  |  | $ | 1,422,768 |  |  |  | 100.00 |  | % |  | $ | 849,742 |  |  | $ | 848,360 |  |  |  | 100.00 |  | %

(1)
Beginning in the reporting period ended June 30, 2025, the Company has made a prospective presentation change to reclassify money market fund investments as short-term investments. As of December 31, 2024, the amortized cost and fair value of money market investments held by the Company was $39,527.

As of September 30, 2025 and December 31, 2024, there were no portfolio companies with loans on non-accrual status.

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The industry composition of the Company's non-controlled, non-affiliated investments (at fair value) was as follows:

|  | September 30, 2025 |  |  |  | December 31, 2024 |  |
Aerospace and Defense |  |  | 0.61 |  | % |  |  | 0.43 |  | %
Air Freight and Logistics |  |  | 0.79 |  |  |  |  | 0.66 |  |
Automobile Components |  |  | 1.37 |  |  |  |  | 2.26 |  |
Beverages |  |  | 0.07 |  |  |  |  | — |  |
Building Products |  |  | 0.24 |  |  |  |  | 0.31 |  |
Capital Markets |  |  | 1.94 |  |  |  |  | 2.99 |  |
Chemicals |  |  | 3.91 |  |  |  |  | 2.23 |  |
Commercial Services and Supplies |  |  | 8.01 |  |  |  |  | 9.76 |  |
Construction & Engineering |  |  | 1.20 |  |  |  |  | 0.84 |  |
Construction Materials |  |  | 0.83 |  |  |  |  | 0.84 |  |
Containers and Packaging |  |  | 4.62 |  |  |  |  | 3.17 |  |
Distributors |  |  | 1.99 |  |  |  |  | 2.44 |  |
Diversified Consumer Services |  |  | 6.55 |  |  |  |  | 8.78 |  |
Diversified Telecommunication Services |  |  | 0.57 |  |  |  |  | 0.50 |  |
Electrical Equipment |  |  | 1.16 |  |  |  |  | 1.53 |  |
Electronic Equipment, Instruments and Components |  |  | 0.81 |  |  |  |  | 1.33 |  |
Energy Equipment and Services |  |  | 0.99 |  |  |  |  | 1.35 |  |
Financial Services |  |  | 6.66 |  |  |  |  | 4.39 |  |
Food Products |  |  | 1.39 |  |  |  |  | 0.91 |  |
Gas Utilities |  |  | 0.83 |  |  |  |  | — |  |
Ground Transportation |  |  | 0.01 |  |  |  |  | 0.02 |  |
Health Care Technology |  |  | 5.98 |  |  |  |  | 4.44 |  |
Healthcare Equipment and Supplies |  |  | 0.54 |  |  |  |  | 0.56 |  |
Healthcare Providers and Services |  |  | 7.41 |  |  |  |  | 5.54 |  |
Hotels, Restaurants and Leisure |  |  | 0.64 |  |  |  |  | 1.04 |  |
Household Durables |  |  | 0.01 |  |  |  |  | 0.02 |  |
Household Products |  |  | 0.75 |  |  |  |  | 0.33 |  |
Industrial Conglomerates |  |  | 1.10 |  |  |  |  | 0.96 |  |
Insurance |  |  | 6.21 |  |  |  |  | 7.32 |  |
IT Services |  |  | 3.25 |  |  |  |  | 4.23 |  |
Life Sciences Tools & Services |  |  | 0.67 |  |  |  |  | 0.94 |  |
Machinery |  |  | 1.32 |  |  |  |  | 0.99 |  |
Media |  |  | 0.50 |  |  |  |  | 2.18 |  |
Oil, Gas and Consumable Fuels |  |  | 0.63 |  |  |  |  | 1.30 |  |
Personal Care Products |  |  | 0.03 |  |  |  |  | 0.05 |  |
Pharmaceuticals |  |  | 2.14 |  |  |  |  | 1.77 |  |
Professional Services |  |  | 7.23 |  |  |  |  | 9.40 |  |
Real Estate Management and Development |  |  | 0.72 |  |  |  |  | 0.77 |  |
Software |  |  | 12.53 |  |  |  |  | 11.14 |  |
Specialty Retail |  |  | 0.49 |  |  |  |  | 0.02 |  |
Technology Hardware, Storage and Peripherals |  |  | 0.72 |  |  |  |  | 1.15 |  |
Textiles, Apparel and Luxury Goods |  |  | 0.65 |  |  |  |  | 0.25 |  |
Trading Companies and Distributors |  |  | 0.35 |  |  |  |  | 0.30 |  |
Transportation Infrastructure |  |  | 0.84 |  |  |  |  | 0.25 |  |
Wireless Telecommunication Services |  |  | 0.74 |  |  |  |  | 0.31 |  |
|  |  | 100.00 |  | % |  |  | 100.00 |  | %

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The geographic composition of the Company's non-controlled, non-affiliated investments (at amortized cost and fair value) was as follows:

|  | September 30, 2025 |  |
|  | Amortized Cost |  |  | Fair Value |  |  | % of Total Investments at Fair Value |  |  | Fair Value as % of Net Assets |  |
United States |  | $ | 1,363,804 |  |  | $ | 1,361,612 |  |  |  | 97.69 |  | % |  | 193.63 |  | %
Canada |  |  | 32,026 |  |  |  | 32,146 |  |  |  | 2.31 |  |  |  | 4.57 |  |
Total |  | $ | 1,395,830 |  |  | $ | 1,393,758 |  |  |  | 100.00 |  | % |  | 198.20 |  | %

|  | December 31, 2024 |  |
|  | Amortized Cost |  |  | Fair Value |  |  | % of Total Investments at Fair Value |  |  | Fair Value as % of Net Assets |  |
United States |  | $ | 824,707 |  |  | $ | 823,915 |  |  |  | 97.12 |  | % |  | 129.25 |  | %
Canada |  |  | 17,851 |  |  |  | 17,375 |  |  |  | 2.05 |  |  |  | 2.73 |  |
United Kingdom |  |  | 7,184 |  |  |  | 7,070 |  |  |  | 0.83 |  |  |  | 1.11 |  |
Total |  | $ | 849,742 |  |  | $ | 848,360 |  |  |  | 100.00 |  | % |  | 133.09 |  | %

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Note 5. Fair Value Measurements

The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the applicable measurement date.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the overall fair value measurement. The Adviser’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment.

In addition to using the above inputs in investment valuations, the Adviser applies the valuation policy approved by its Board that is consistent with ASC 820. Consistent with the valuation policy, the Adviser evaluates the source of the inputs, including any markets in which its investments are trading (or any markets in which securities with similar attributes are trading), in determining fair value.

Investments whose values are based on the listed closing price quoted on the securities’ principal exchange are classified within Level 1 and include active listed equities. The Adviser does not adjust the quoted price for such instruments, even in situations where the Company holds a large position and a sale could reasonably impact the quoted price.

ASC 820 specifies a fair value hierarchy that prioritizes and ranks the level of observability of inputs used in determination of fair value. In accordance with ASC 820, these levels are summarized below:

Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities that the Adviser has the ability to access at the measurement date.

Level 2 – inputs other than quoted prices included in Level 1 that are observable for the assets or liabilities, either directly or indirectly. Level 2 inputs include: quoted market prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The following tables present the fair value hierarchy of financial instruments according to the fair value hierarchy as described in Note 2. Significant Accounting Policies of these consolidated financial statements:

|  | September 30, 2025 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Secured Debt |  | $ | — |  |  | $ | 207,241 |  |  | $ | 1,167,749 |  |  | $ | 1,374,990 |
Unsecured Debt |  |  | — |  |  |  | — |  |  |  | 783 |  |  |  | 783 |
Equity Investments |  |  | — |  |  |  | — |  |  |  | 17,985 |  |  |  | 17,985 |
Total non-controlled/non-affiliated investments |  |  | — |  |  |  | 207,241 |  |  |  | 1,186,517 |  |  |  | 1,393,758 |
Short-Term Investments |  |  | 29,010 |  |  |  | — |  |  |  | — |  |  |  | 29,010 |
Total Investments at fair value |  | $ | 29,010 |  |  | $ | 207,241 |  |  | $ | 1,186,517 |  |  | $ | 1,422,768 |

|  | December 31, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Secured Debt |  | $ | — |  |  | $ | 45,651 |  |  | $ | 798,059 |  |  | $ | 843,710 |
Unsecured Debt |  |  | — |  |  |  | — |  |  |  | 703 |  |  |  | 703 |
Equity Investments |  |  | — |  |  |  | — |  |  |  | 3,947 |  |  |  | 3,947 |
Total Investments before Cash Equivalents |  |  | — |  |  |  | 45,651 |  |  |  | 802,709 |  |  |  | 848,360 |
Money Market Fund |  |  | 39,527 |  |  |  | — |  |  |  | — |  |  |  | 39,527 |
Total Investments including Cash Equivalents |  | $ | 39,527 |  |  | $ | 45,651 |  |  | $ | 802,709 |  |  | $ | 887,887 |

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The following tables present changes in the fair value of financial instruments for which Level 3 inputs were used to determine fair value for the three and nine months ended September 30, 2025:

| Three Months Ended September 30, 2025 |
| Secured Debt |  |  | Unsecured Debt |  |  | Equity Investments |  |  | Total Investments |
Fair value, beginning of period | $ | 1,055,288 |  |  | $ | 755 |  |  | $ | 14,763 |  |  | $ | 1,070,806 |
Purchase of investments (including received in-kind) |  | 149,678 |  |  |  | 28 |  |  |  | 2,893 |  |  |  | 152,599 |
Proceeds from sale of investments and principal repayments |  | (48,431 | ) |  |  | — |  |  |  | — |  |  |  | (48,431 | )
Net accretion of discount and amortization of premium |  | 477 |  |  |  | — |  |  |  | — |  |  |  | 477 |
Net realized gains (losses) on investments |  | 6 |  |  |  | — |  |  |  | — |  |  |  | 6 |
Net change in unrealized appreciation (depreciation) on investments |  | 109 |  |  |  | — |  |  |  | 329 |  |  |  | 438 |
Transfers out of Level 3 |  | (5,999 | ) |  |  | — |  |  |  | — |  |  |  | (5,999 | )
Transfers to Level 3 |  | 16,621 |  |  |  | — |  |  |  | — |  |  |  | 16,621 |
Fair value, end of period | $ | 1,167,749 |  |  | $ | 783 |  |  | $ | 17,985 |  |  | $ | 1,186,517 |
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held at September 30, 2025 | $ | 239 |  |  | $ | — |  |  | $ | 329 |  |  | $ | 568 |

| Nine Months Ended September 30, 2025 |
| Secured Debt |  |  | Unsecured Debt |  |  | Equity Investments |  |  | Total Investments |
Fair value, beginning of period | $ | 798,059 |  |  | $ | 703 |  |  | $ | 3,947 |  |  | $ | 802,709 |
Purchase of investments (including received in-kind) |  | 514,555 |  |  |  | 79 |  |  |  | 13,587 |  |  |  | 528,221 |
Proceeds from sale of investments and principal repayments |  | (129,193 | ) |  |  | — |  |  |  | — |  |  |  | (129,193 | )
Net accretion of discount and amortization of premium |  | 1,387 |  |  |  | 1 |  |  |  | — |  |  |  | 1,388 |
Net realized gains (losses) on investments |  | 22 |  |  |  | — |  |  |  | — |  |  |  | 22 |
Net change in unrealized appreciation (depreciation) on investments |  | 1,240 |  |  |  | — |  |  |  | 451 |  |  |  | 1,691 |
Transfers out of Level 3 |  | (18,321 | ) |  |  | — |  |  |  | — |  |  |  | (18,321 | )
Transfers to Level 3 |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Fair value, end of period | $ | 1,167,749 |  |  | $ | 783 |  |  | $ | 17,985 |  |  | $ | 1,186,517 |
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held at September 30, 2025 | $ | 1,027 |  |  | $ | — |  |  | $ | 452 |  |  | $ | 1,479 |

Transfers between levels, if any, are recognized at the beginning of the period in which the transfers occur. For the three and nine months ended September 30, 2025, transfers to (out of) Level 3 were a result of changes in the observability of significant inputs for certain portfolio companies.

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The following tables present quantitative information about the significant unobservable inputs of the Company’s Level 3 financial instruments. The tables are not intended to be all-inclusive but instead captures the significant unobservable inputs relevant to the Company’s determination of fair value.

|  | September 30, 2025 |
|  |  |  |  |  |  |  |  | Range |  |  |  |
|  | Fair Value (1) |  |  | Valuation Technique |  | Unobservable Input |  | Low |  |  | High |  |  | Weighted Average (2) |
Secured Debt |  | $ | 889,130 |  |  | Market yield analysis |  | Market yield discount rates |  |  | 6.65 | % |  |  | 21.38 | % |  |  | 8.61 | %
|  |  | 16,750 |  |  | Market Quotation |  | Quote |  |  | 89.42 |  |  |  | 100.33 |  |  |  | 98.56 |
|  |  | 261,869 |  |  | Recent transaction |  | Transaction price |  |  | 95.00 |  |  |  | 100.00 |  |  |  | 99.66 |
Total Secured Debt |  |  | 1,167,749 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured Debt |  |  | 783 |  |  | Market yield analysis |  | Market yield discount rates |  |  | 15.38 | % |  |  | 16.06 | % |  |  | 15.72 | %
Equity Investments |  |  | 10,032 |  |  | Comparable company analysis |  | EBITDA multiples |  | 9.0 x |  |  | 23.8 x |  |  | 15.5 x |
|  |  | 2,581 |  |  | Recent Transaction |  | Transaction Price |  |  | 100.00 | % |  |  | 100.00 | % |  |  | 100.00 | %
|  |  | 5,372 |  |  | Market yield analysis |  | Market yield discount rates |  |  | 8.19 | % |  |  | 15.04 | % |  |  | 14.35 | %
Total Equity Investments |  |  | 17,985 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total |  | $ | 1,186,517 |  |  |  |  |  |  |  |  |  |  |  |  |  |

|  | December 31, 2024 |
|  |  |  |  |  |  |  |  | Range |  |  |  |
|  | Fair Value (1) |  |  | Valuation Technique |  | Unobservable Input |  | Low |  |  | High |  |  | Weighted Average (2) |
Secured Debt |  | $ | 600,570 |  |  | Market yield analysis |  | Market yield discount rates |  |  | 6.35 | % |  |  | 13.32 | % |  |  | 9.27 | %
|  |  | 32,556 |  |  | Market quotation |  | Quote |  |  | 95.30 |  |  |  | 100.94 |  |  |  | 100.13 |
|  |  | 164,933 |  |  | Recent transaction |  | Transaction price |  |  | 91.70 |  |  |  | 100.00 |  |  |  | 99.44 |
Total Secured Debt |  |  | 798,059 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured Debt |  |  | 703 |  |  | Market yield analysis |  | Market yield discount rates |  |  | 15.38 | % |  |  | 16.06 | % |  |  | 15.72 | %
Equity Investments |  |  | 3,947 |  |  | Recent Transaction |  | Transaction Price |  |  | 100.00 | % |  |  | 100.00 | % |  |  | 100.00 | %
Total |  | $ | 802,709 |  |  |  |  |  |  |  |  |  |  |  |  |  |

(1)
As of September 30, 2025, included within the fair value of Level 3 assets of $1,186,517 is an amount of $281,200 for which the Adviser did not develop the unobservable inputs (examples include broker quotes and transaction prices). As of December 31, 2024, inclu ded within the fair value of Level 3 assets of $802,709 is an amount of $201,436 for which the Adviser did not develop the unobservable inputs (examples include broker quotes and transaction prices).
(2)
Weighted averages are calculated based on fair value of investments.

The significant unobservable input used in the yield analysis is the discount rate based on comparable market yields. The significant unobservable inputs used in the income approach are the discount rate used to discount the estimated future cash flows expected to be received from the underlying investment. The Company uses market discount rates for debt securities to determine if the effective yield on a debt security is commensurate with the market yields for that type of debt security. If a debt security’s effective yield is significantly less than the market yield for a similar debt security with a similar credit profile, the resulting fair value of the debt security may be lower. Significant increases in the discount rate would significantly lower the fair value of an investment; conversely significant decreases in the discount rate would significantly increase the fair value of an investment. The significant unobservable inputs used in the market approach are based on market comparable transactions and market multiples of publicly traded comparable companies. Increases or decreases in market comparable transactions or market multiples would result in an increase or decrease in the fair value.

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Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Additionally, the fair value of the Company’s investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that the Company may ultimately realize. Further, such investments are generally subject to legal and other restrictions on resale or otherwise are less liquid than publicly traded securities. If the Company was required to liquidate a portfolio investment in a forced or liquidation sale, it could realize significantly less than the value at which the Company has recorded it. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected in the valuations currently assigned. As of September 30, 2025 and December 31, 2024, the carrying amounts of the Company’s assets and liabilities, other than investments at fair value, approximate fair value due to their short maturities. Fair value is estimated by discounting remaining payments using applicable current market rates, which take into account changes in the Company’s marketplace credit ratings, if applicable, or market quotes, if available.

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Note 6. Borrowings

In accordance with the 1940 Act, with certain limitations, the Company is allowed to borrow amounts such that its asset coverage, as defined in the 1940 Act, is at least 150% after such borrowing. As of September 30, 2025 and December 31, 2024, the Company’s asset coverage was 197.65% and 678.49%, respectively.

Debt outstanding

The Company’s outstanding debt obligations were as follows:

|  | September 30, 2025 |
|  | Aggregate Principal Committed |  |  | Outstanding Principal |  |  | Carrying Value (1) |  |  | Unused Portion (2) |  |  | Amount Available (3) |
Morgan Stanley Facility |  | $ | 1,000,000 |  |  | $ | 720,127 |  |  | $ | 720,127 |  |  | $ | 279,873 |  |  | $ | 74,552 |
Total |  | $ | 1,000,000 |  |  | $ | 720,127 |  |  | $ | 720,127 |  |  | $ | 279,873 |  |  | $ | 74,552 |

|  | December 31, 2024 |
|  | Aggregate Principal Committed |  |  | Outstanding Principal |  |  | Carrying Value (1) |  |  | Unused Portion (2) |  |  | Amount Available (3) |
Morgan Stanley Facility |  | $ | 500,000 |  |  | $ | 110,194 |  |  | $ | 110,194 |  |  | $ | 389,806 |  |  | $ | 359,804 |
Total |  | $ | 500,000 |  |  | $ | 110,194 |  |  | $ | 110,194 |  |  | $ | 389,806 |  |  | $ | 359,804 |

(1)
The carrying value of the Company’s debt obligations is used as an approximate to fair value. The fair value of these debt obligations would be categorized as Level 3 under the ASC 820 fair value level hierarchy as of September 30, 2025 and December 31, 2024. Carrying values do not include impact of deferred financing costs.
(2)
The unused portion is the amount upon which commitment fees, if any, are based.
(3)
The amount available reflects any limitations related to the respective facility’s borrowing base.

Morgan Stanley Facility

On November 6, 2024, APCF Funding SPV LLC, a wholly-owned subsidiary of the Company, as borrower, and the Company, as equity holder and servicer, entered into a loan facility (the “Morgan Stanley Facility”) for revolving and term loans pursuant to a Loan and Servicing Agreement (the “Agreement”), with the lenders from time to time party thereto, Morgan Stanley Senior Funding, Inc., as administrative agent (the “Administrative Agent”), U.S. Bank Trust Company, National Association, as collateral agent (“Collateral Agent”), and U.S. Bank National Association, as account bank and collateral custodian. Capitalized terms used herein but not otherwise defined herein shall have the meanings assigned to such terms in the Agreement.

Loans under the Morgan Stanley Facility initially bear interest at (i) a per annum rate equal to Term SOFR plus an additional margin calculated as a percentage of the aggregate principal balance of the underlying collateral obligations (the “Applicable Margin”) for loans denominated in U.S. Dollars, (ii) EURIBOR plus the Applicable Margin for loans denominated in Euros, (iii) Daily Compounded CORRA plus the Applicable Margin for loans denominated in Canadian Dollars, and (iv) Daily Simple SONIA plus the Applicable Margin for loans denominated in Great British Pounds, (v) BBSW plus the Applicable Margin for loans denominated in Australian Dollars and (vi) TONA plus the Applicable Margin for loans denominated in Japanese Yen. The Applicable Margin equals the product of (i) 1.65% and (ii) the lesser of: (x) aggregate principal balance of all broadly-syndicated loans divided by the aggregate principal balance of all eligible loans and (y) 35% (“Percentage”) plus the product of (i) 1.90% and (ii) 100% minus Percentage, subject to a step-up of 2.00% following the occurrence of an Event of Default or after the automatic occurrence or declaration of the Facility Maturity Date.

The initial maximum principal amount under the Agreement is $500 million and the Agreement includes an accordion provision to permit increases to the total facility amount up to a maximum of $1 billion, subject in each case to the satisfaction of certain conditions and the consent of the Administrative Agent and each Lender whose commitment is being increased. Proceeds from loans made under the Morgan Stanley Facility may be used to fund collateral obligations acquired by APCF Funding SPV LLC, to pay certain fees and expenses and to make distributions to the Company, subject to certain conditions set forth in the Agreement. Revolving loans borrowed under the Morgan Stanley Facility may be repaid and reborrowed until the end of the Revolving Period, which can occur no later than November 6, 2027 (unless extended), and all amounts outstanding under the Morgan Stanley Facility must be repaid by November 6, 2029. The Agreement includes customary affirmative and negative covenants, including certain limitations on the incurrence of additional indebtedness and liens, as well as usual and customary events of default for loan facilities of this nature.

On March 18, 2025, the Company entered into the First Amendment to Loan and Servicing Agreement (the “Amendment”), among the parties listed above. The Amendment provides for, among other things, an increase in the aggregate commitments of the lenders under the Morgan Stanley Facility from $500 million to $1 billion, as well as certain changes to the concentration limits.

As of September 30, 2025 and December 31, 2024, the Company was in compliance with all covenants associated with the Morgan Stanley Facility.

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Foreign Currency Transactions and Translations

The Company’s outstanding foreign-denominated debt obligations were as follows:

|  | September 30, 2025 |
|  | Original Principal Amount (Local) |  |  | Original Principal Amount (USD) |  |  | Outstanding Principal |  |  | Unrealized Gain (Loss) |
Canadian Dollar |  |  | 26,756 |  |  | $ | 18,647 |  |  | $ | 19,221 |  |  | $ | (574 | )
European Euro |  |  | 4,688 |  |  |  | 4,998 |  |  |  | 5,501 |  |  |  | (503 | )
Great British Pound |  |  | 4,020 |  |  |  | 5,156 |  |  |  | 5,405 |  |  |  | (249 | )
Total |  |  |  |  | $ | 28,801 |  |  | $ | 30,127 |  |  | $ | (1,326 | )

|  | December 31, 2024 |
|  | Original Principal Amount (Local) |  |  | Original Principal Amount (USD) |  |  | Outstanding Principal |  |  | Unrealized Gain (Loss) |
Canadian Dollar |  |  | 18,000 |  |  | $ | 12,541 |  |  | $ | 12,514 |  |  | $ | 27 |
European Euro |  |  | 5,000 |  |  |  | 5,222 |  |  |  | 5,177 |  |  |  | 45 |
Great British Pound |  |  | 2,000 |  |  |  | 2,520 |  |  |  | 2,503 |  |  |  | 17 |
Total |  |  |  |  | $ | 20,283 |  |  | $ | 20,194 |  |  | $ | 89 |

Interest and Debt Expenses

The components of interest and debt expenses were as follows:

|  | Three Months Ended September 30, 2025 |  |  | Nine Months Ended September 30, 2025 |
Stated interest expense |  | $ | 10,244 |  |  | $ | 22,379 |
Facility unused fees |  |  | 224 |  |  |  | 541 |
Amortization of deferred financing costs |  |  | 311 |  |  |  | 821 |
Total interest and debt expenses |  | $ | 10,779 |  |  | $ | 23,741 |
Cash paid for interest expense |  | $ | 10,260 |  |  | $ | 21,136 |
Weighted average interest rate |  |  | 6.10 | % |  |  | 6.11 | %
Average debt outstanding |  | $ | 657,315 |  |  | $ | 483,686 |

Weighted average interest rates do not include impact of unused commitment fees or deferred financing costs. For both the three and nine months ended September 30, 2024, no interest expense was accrued.

As of September 30, 2025 and December 31, 2024, $2,105 and $174 of interest expense and $40 and $187, respectively, of unused commitment fees were included in interest payable on the Consolidated Statement of Assets and Liabilities.

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Note 7. Commitments and Contingencies

In the normal course of business, the Company may enter into contracts that provide a variety of general indemnifications. Any exposure to the Company under these arrangements could involve future claims that may be made against the Company. Currently, no such claims exist or are expected to arise and, accordingly, the Company has not accrued any liability in connection with such indemnifications.

Unfunded commitments

The Company’s investment portfolio contains revolving line of credit or delayed draw commitments, which require the Company to fund when requested by the portfolio companies. As of September 30, 2025 and December 31, 2024, the Company had unfunded investment commitments in the aggregate par amount of $368,519 and $290,998, respectively. S uch commitments are subject to the satisfaction of certain conditions set forth in the documents governing these loans and letters of credit and there can be no assurance that such conditions will be satisfied.

Off balance sheet risk

Off-balance sheet risk refers to an unrecorded potential liability that may result in a future obligation or loss, even though it does not appear on the Consolidated Statements of Assets and Liabilities. The Company may enter into derivative instruments that contain elements of off-balance sheet market and credit risk. As of September 30, 2025 and December 31, 2024, there were no commitments outs tanding for derivative contracts.

Legal proceedings

From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of September 30, 2025 and December 31, 2024, management is not aware of any material pending legal proceedings individually or in the aggregate.

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Note 8. Net Assets

The Company is currently offering on a continuous basis up to $2 billion of Common Shares at $0.01 per share par value, and has the authority to issue an unlimited number of Common Shares at $0.01 per share par value, in connection with its formation. The Company expects to offer to sell a combination of three separate classes of Common Shares: Class S shares, Class D shares and Class I shares, with a dollar value up to the maximum offering amount. The share classes have different ongoing shareholder servicing and/or distribution fees. The per share purchase price for Common Shares in the Company’s Offering will be equal to the Company’s NAV per share, as of the effective date of the monthly share purchase date.

The following table summarizes transactions in Common Shares during the three and nine months ended September 30, 2025:

| Three Months Ended September 30, 2025 |  |  | Nine Months Ended September 30, 2025 |
| Shares |  |  | Amount |  |  | Shares |  |  | Amount |
CLASS I |  |  |  |  |  |  |  |  |  |  |
Subscriptions |  | 1,263,848 |  |  | $ | 31,882 |  |  |  | 2,470,603 |  |  | $ | 62,198 |
Share transfers between classes |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Distributions reinvested |  | 15,136 |  |  |  | 382 |  |  |  | 17,862 |  |  |  | 450 |
Net increase (decrease) |  | 1,278,984 |  |  | $ | 32,264 |  |  |  | 2,488,465 |  |  | $ | 62,648 |
CLASS S |  |  |  |  |  |  |  |  |  |  |
Subscriptions |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Share transfers between classes |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Distributions reinvested |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net increase (decrease) |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
CLASS D |  |  |  |  |  |  |  |  |  |  |
Subscriptions |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Share transfers between classes |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Distributions reinvested |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net increase (decrease) |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Total net increase (decrease) |  | 1,278,984 |  |  | $ | 32,264 |  |  |  | 2,488,465 |  |  | $ | 62,648 |

On August 29, 2023, an affiliate of the Adviser subscribed for 1,000 shares of the Company’s Class I Shares of beneficial interest at $25.00 per share. On November 5, 2024, an affiliate of the Adviser sold 1,000 Class I Shares for an aggregate consideration at a price of $25.00 per Class I Share. As of September 30, 2025 and December 31, 2024, no entity with an advisory relationship with Antares or its affiliates, including the Company, as appropriate given the context of the disclosure (including the Adviser) ("Antares Parties") own Common Shares of the Company.

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Share Repurchase Program

The Company has commenced a share repurchase program in which the Company intends to repurchase, in each quarter, up to 5% of the Common Shares outstanding (either by number of Common Shares or aggregate net asset value) as of the close of the previous calendar quarter. The Company’s Board may amend, suspend or terminate the share repurchase program if it deems such action to be in the best interest of the Company and the best interest of the Company’s shareholders. As a result, share repurchases may not be available each quarter. The Company intends to conduct such repurchase offers in accordance with the requirements of Rule 13e-4 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the 1940 Act. All shares purchased pursuant to the terms of each tender offer will be retired and thereafter will be authorized and unissued shares.

Under the Company’s share repurchase program, to the extent the Company offers to repurchase shares in any particular quarter, the Company expects to repurchase shares pursuant to tender offers using a purchase price equal to the NAV per share as of the last calendar day of the applicable quarter, except that shares that have not been outstanding for at least one year will be repurchased at 98% of such NAV (an “Early Repurchase Deduction”). The one-year holding period is measured as of the subscription closing date immediately following the prospective repurchase date. The Early Repurchase Deduction may be waived, at the Company’s discretion, in the case of repurchase requests arising from the death, divorce or qualified disability of the holder. The Early Repurchase Deduction will be retained by the Company for the benefit of remaining shareholders across all shares.

Distributions

The Company authorizes and declares distribution amounts per share of Common Shares payable monthly in arrears. The following table presents distributions that were declared during the nine months ended September 30, 2025:

Declaration Date |  | Payment Date |  | Base Distribution Per Share (1) |  |  | Special Distribution Per Share (1) |  |  | Total Distribution Per Share (1) |  |  | Total Distribution Amount |
January 31, 2025 |  | February 28, 2025 |  | $ | 0.1912 |  |  | $ | 0.0159 |  |  | $ | 0.2071 |  |  | $ | 5,261 |
February 28, 2025 |  | March 31, 2025 |  |  | 0.1734 |  |  |  | 0.0193 |  |  |  | 0.1927 |  |  |  | 4,896 |
March 31, 2025 |  | April 30, 2025 |  |  | 0.1920 |  |  |  | 0.0213 |  |  |  | 0.2133 |  |  |  | 5,426 |
April 30, 2025 |  | May 30, 2025 |  |  | 0.1858 |  |  |  | 0.0258 |  |  |  | 0.2116 |  |  |  | 5,443 |
May 30, 2025 |  | June 30, 2025 |  |  | 0.1916 |  |  |  | 0.0266 |  |  |  | 0.2182 |  |  |  | 5,647 |
June 25, 2025 |  | July 31, 2025 |  |  | 0.1859 |  |  |  | 0.0258 |  |  |  | 0.2117 |  |  |  | 5,634 |
July 31, 2025 |  | August 29, 2025 |  |  | 0.1927 |  |  |  | 0.0268 |  |  |  | 0.2195 |  |  |  | 5,908 |
August 28, 2025 |  | September 29, 2025 |  |  | 0.1930 |  |  |  | 0.0268 |  |  |  | 0.2198 |  |  |  | 6,037 |
September 30, 2025 |  | October 30, 2025 |  |  | 0.1866 |  |  |  | 0.0207 |  |  |  | 0.2073 |  |  |  | 5,782 |
Total |  |  |  | $ | 1.6922 |  |  | $ | 0.2090 |  |  | $ | 1.9012 |  |  | $ | 50,034 |

(1)
Rounded to four decimal places.

Distribution Reinvestment Plan

The Company has adopted a distribution reinvestment plan, pursuant to which the Company reinvests all cash distributions declared on behalf of the Company’s shareholders who do not elect to receive their distributions in cash. As a result, if the Board authorizes and declares a cash distribution, then the shareholders who have enrolled in the distribution reinvestment plan will have their cash distributions automatically reinvested in additional shares of the Company's Common Shares, rather than receiving the cash distribution. The Company expects to use newly issued shares to implement the distribution reinvestment plan. Distributions on fractional shares are credited to each participating shareholder’s account to three decimal places.

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Note 9. Financial Highlights

The following are the financial highlights for the nine months ended September 30, 2025:

|  | Nine Months Ended September 30, 2025 |  |
Per Share Data: (1) (2) |  |  |  |  |
Net assets, beginning of period |  | $ |  | 25.09 |  |
Net investment income (loss) |  |  |  | 2.09 |  |
Net realized and change in unrealized appreciation (depreciation) |  |  |  | (0.07 | ) |
Net increase (decrease) in net assets resulting from operations |  |  |  | 2.02 |  |
Distributions declared |  |  |  | (1.90 | ) |
Total increase (decrease) in net assets |  |  |  | 0.12 |  |
Net assets, end of period |  | $ |  | 25.21 |  |
Common Shares outstanding, end of period |  |  |  | 27,894,139 |  |
Total return based on net asset value (3) |  |  |  | 8.33 |  | %
Ratios: (4) |  |  |  |  |
Expenses to average net assets gross of fee waivers |  |  |  | 8.30 |  | %
Net expenses to average net assets net of fee waivers |  |  |  | 6.57 |  | %
Net investment income to average net assets |  |  |  | 10.60 |  | %
Portfolio turnover rate (5) |  |  |  | 13.79 |  | %
Supplemental Data: |  |  |  |  |
Net assets, end of period |  | $ |  | 703,219 |  |
Asset coverage ratio (6) |  |  |  | 197.65 |  | %

(1)
The per share data was derived by using the weighted average shares outstanding during the period.
(2)
The per share data was derived using the actual shares outstanding at the date of the relevant transaction (See Note 8).
(3)
Total return (not annualized) is calculated as the change in net assets per share during the period, plus distributions per share (assuming distributions are reinvested in accordance with the Company’s distribution reinvestment plan), divided by the net assets per share at the beginning of the period.
(4)
Amounts are annualized except for non-recurring income and expenses (organization and offering expenses, management fee waiver, incentive fee waiver and reimbursable expenses paid to adviser).
(5)
Portfolio turnover rate is calculated using the lesser of the year-to-date sales or year-to-date purchases over the average of the invested assets at fair value for the period reported. Ratio does not include impact of short-term investments.
(6)
In accordance with the 1940 Act, with certain limitations, the Company is allowed to borrow amounts such that its asset coverage, as defined in the 1940 Act, is at least 150% after such borrowing.

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Note 10. Segment Reporting

The Company operates through a single operating and reporting segment with the investment objective to provide risk-adjusted returns and current income to shareholders by investing primarily in loans to U.S. borrowers. The Chief Operating Decision Maker ("CODM") function is comprised of the Company’s chief executive officer, chief financial officer and chief compliance officer, which evaluates the performance of the Company on a consolidated basis, and which operates under the specific regulatory requirements of the Investment Company Act of 1940. The CODM function utilizes key metrics including, but not limited to, net increase (decrease) in net assets resulting from operations (as reported on the Consolidated Statements of Operations) for determining the Company’s investment strategy, capital allocation, expense structure, and potential significant transactions. As the Company’s operations comprise of a single reporting segment, the segment assets are reflected on the accompanying Consolidated Statements of Assets and Liabilities as “total assets” and the significant segment expenses are listed on the accompanying Consolidated Statements of Operations. The Company’s adoption of this guidance did not have a material impact on the Company’s financial position, results of operations or cash flows.

Note 11. Subsequent Events

The Company has evaluated events and transactions for potential recognition or disclosure through November 13, 2025. There are no subsequent events to disclose except for the following:

Subscriptions

On October 1, 202 5, the Company sold and issued 503,194 Class I shares for an aggregate consideration of approximately $12.7 million at a price of $25.21 p er share.

On October 31, 2025, the Company declared a regular distribution in the amount of $0.1928 per share and a special distribution in the amount of $0.0161 per share for its Common Shares, which are payable to shareholders of record as of October 31, 2025, and will be paid on or about November 25, 2025. These distributions will be paid in cash or reinvested in additional Common Shares for shareholders participating in the Company’s distribution reinvestment plan.

The Company received $9.4 million of net proceeds relating to the issuance of Class I shares for subscriptions effective November 1, 2025.

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I tem 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Overview

We are a newly organized, non-diversified closed-end management investment company that has elected to be treated as a business development company (“BDC”) under the 1940 Act as of November 5, 2024. We also have elected to be treated, and intend to comply with the requirements to qualify annually, as a regulated investment company (“RIC”) under the Internal Revenue Code of 1986, as amended (the “Code”). We are a non-traded, perpetual-life BDC, which is a BDC whose common shares of beneficial interest (“Common Shares”) are not listed for trading on a stock exchange or other securities market. The Company uses the term “perpetual-life BDC” to describe an investment vehicle of indefinite duration whose Common Shares are intended to be sold by the Company monthly on a continuous basis at a price generally equal to the Company’s net asset value (“NAV”) per Common Share. Formed as a Delaware statutory trust on May 1, 2023, we are externally managed by Antares Capital Credit Advisers LLC (the "Adviser"), which is responsible for sourcing potential investments, conducting due diligence on prospective investments, analyzing investment opportunities, structuring investments and monitoring our portfolio on an ongoing basis. Our Adviser is registered as an investment adviser with the SEC.

Our investment objective is to provide risk-adjusted returns and current income to shareholders by investing primarily in loans to U.S. borrowers.

Our investment strategy focuses primarily on private credit investments structured as Portfolio Loans to U.S. borrowers. A “Portfolio Loan” is a senior secured loan, which may be first lien, second lien or unitranche loan, consisting of term loans and/or related delayed draw term loans and/or revolving loans, and each tranche of a senior secured loan acquired by the Company is referred to as a Portfolio Loan. The Company acquires Portfolio Loans that have been sourced and underwritten (i.e., evaluated for associated potential risks) by Antares Capital LP, its consolidated subsidiaries or joint ventures whose equity securities or whose subordinated notes or other interests that constitute the economic equity therein, as applicable, are directly or indirectly majority-owned by Antares Holdings LLC, and any entity with an advisory relationship with Antares or its affiliates, including the Company, as appropriate given the context of the disclosure (including the Adviser) (the “Antares Parties”) or by other loan originators that can include, among others, joint ventures in which one or more Antares Parties have interests. A Portfolio Loan is one that the Company may generally hold on its own or in a group with other Antares Parties advised funds and accounts and/or third-party investors. Portfolio Loans are generally expected to have an average contractual term of five to seven years, with an expected life typically between three to four years. Unitranche loans represent a hybrid loan structure that combines senior debt and subordinated debt into one loan.

While our investment strategy primarily focuses on companies in the U.S., we also intend to leverage the Antares platform’s global presence to invest in companies in Canada, Europe and other locations outside the U.S., subject to compliance with BDC requirements to invest at least 70% of assets in “eligible portfolio companies”. The Company’s subsidiaries’ (including entities that engage in investment activities in securities or other assets that are primarily controlled by the Company) principal investment strategies and associated principal risks will be consistent with the Company’s principal investment strategies and associated principal risks. We may also invest in preferred equity, or our debt investments may be accompanied by equity-related securities (such as options or warrants) and/or select common equity investments.

Our investment strategy also includes a smaller allocation to more liquid credit investments such as broadly syndicated loans and corporate bonds. We may use these investments to maintain liquidity for our share repurchase program and manage cash before investing subscription proceeds into originated loans, while also seeking attractive investment returns. We may also invest in publicly traded securities of larger corporate issuers on an opportunistic basis when market conditions create compelling potential return opportunities, subject to compliance with BDC requirements.

To seek to enhance our returns, we intend to employ leverage as market conditions permit and at the discretion of the Adviser, but in no event will leverage employed exceed the limitations set forth in the 1940 Act, which currently allows us to borrow up to a 2:1 debt to equity ratio. We intend to use leverage in the form of borrowings, including loans from certain financial institutions and the issuance of debt securities. We may also use leverage in the form of the issuance of preferred shares, but do not currently intend to do so. In determining whether to borrow money, we will analyze the maturity, covenant package and rate structure of the proposed borrowings as well as the risks of such borrowings compared to our investment outlook. Any such leverage, if incurred, would be expected to increase the total capital available for investment by the Company.

Revenues

We generate revenue in the form of interest and fee income on debt investments, capital gains, and dividend income from our equity investments in our portfolio companies. Our senior and subordinated debt investments bear interest at a fixed or floating rate. Interest on debt securities is generally payable quarterly or semiannually. In some cases, some of our investments may provide for deferred interest payments or payment-in-kind (“PIK”) interest. The principal amount of the debt securities and any accrued but unpaid PIK interest generally become due at the maturity date. In addition, we may generate revenue from various fees in the ordinary course of business such as in the form of structuring, consent, waiver, amendment, syndication and other miscellaneous fees. Original issue discounts and market discounts or premiums are capitalized, and we accrete or amortize such amounts as interest income. We record prepayment premiums on loans and debt securities as interest income. Dividend income, if any, is recognized on an accrual basis to the extent that we expect to collect such amounts.

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Expenses

Except as specifically provided below, all investment professionals and staff of the Adviser, when and to the extent engaged in providing investment advisory services to us, and the base compensation, bonus and benefits, and the routine overhead expenses, of such personnel allocable to such services, will be provided and paid for by the Adviser. We bear all other costs and expenses of our operations, administration and transactions, including, but not limited to:

•
investment advisory fees, including management fees and incentive fees, paid to the Adviser pursuant to the Investment Advisory Agreement;
•
the Company’s allocable portion of compensation, overhead (including rent, office equipment and utilities) and other expenses incurred by the Administrator in performing its administrative obligations under the Administration Agreement, including but not limited to: (i) the Company’s chief compliance officer, chief financial officer and their respective staffs; (ii) investor relations, legal, operations and other non-investment professionals at the Administrator that perform duties for the Company; and (iii) any internal audit group personnel of the Adviser or any of its affiliates; and
•
all other expenses of the Company’s operations, administration and transactions (which may be directly incurred by the Company or allocated among the Company and the Adviser’s other clients).

From time to time, the Adviser or its affiliates may pay third-party providers of goods or services. We reimburse the Adviser such affiliates thereof for any such amounts paid on our behalf. From time to time, the Adviser may defer or waive fees and/or rights to be reimbursed for expenses. All of the foregoing expenses are ultimately borne by our shareholders, unless waived.

Portfolio and Investment Activity

As of September 30, 2025, we had investments in 432 portfolio companies across 45 industries. Based on fair value as of September 30, 2025, approximately 99.94% of our debt portfolio was invested in debt bearing a floating interest rate (e.g. Secured Overnight Financing Rate (“SOFR”)), which primarily is subject to interest rate floors. As of September 30, 2025, our weighted average total yield of debt securities at amortized cost was 8.70%. Weighted average yields excludes the effect of accretion of discounts and amortization of premiums and are based on interest rates as of September 30, 2025.

As of December 31, 2024, we had investments in 368 portfolio companies across 43 industries. Based on fair value as of December 31, 2024, approximately 99.92% of our debt portfolio was invested in debt bearing a floating interest rate, which primarily is subject to interest rate floors. As of December 31, 2024, our weighted average total yield of debt securities at amortized cost was 9.22%. Weighted average yields excludes the effect of accretion of discounts and amortization of premiums and are based on interest rates as of December 31, 2024.

Investment disclosures in this section are related to non-controlled/non-affiliated investments unless otherwise indicated.

Our investment activity is presented below (information presented herein is at amortized cost unless otherwise indicated, table below in thousands):

| Three Months Ended September 30, 2025 |  |  | Nine Months Ended September 30, 2025 |
Total investments, beginning of period | $ | 1,243,529 |  |  | $ | 849,742 |
Purchases of investments (including received in-kind) |  | 217,407 |  |  |  | 702,935 |
Net accretion of discount and amortization of premium |  | 464 |  |  |  | 1,372 |
Net realized (gains) losses on investments |  | 1 |  |  |  | (13 | )
Proceeds from sale of investments and principal repayments |  | (65,571 | ) |  |  | (158,206 | )
Total investments, end of period | $ | 1,395,830 |  |  | $ | 1,395,830 |

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The following table presents certain selected information regarding our investment portfolio:

| September 30, 2025 |  | December 31, 2024 |
Weighted average yield on debt and income producing investments, at amortized cost (1) |  | 8.70 | % |  | 9.22 | %
Weighted average yield on debt and income producing investments, at fair value (1) |  | 8.70 | % |  | 9.22 | %
Number of portfolio companies |  | 432 |  |  | 368 |
Median LTM EBITDA (2)(3) | $84.6M |  | $85.1M |
Weighted average net senior leverage (2)(4) | 5.1x |  | 5.0x |
Weighted average loan-to-value (“LTV”) (2)(5) |  | 34 | % |  | 33 | %
Percentage of debt investments bearing a floating rate, at fair value |  | 99.94 | % |  | 99.92 | %
Percentage of debt investments bearing a fixed rate, at fair value |  | 0.06 | % |  | 0.08 | %

(1)
Computed based on the stated interest rate or yield as of September 30, 2025 and December 31, 2024, and weighted based on the total debt and income producing investments (at fair value or amortized cost, as applicable). Actual yields earned over the life of each investment could differ materially from the yields presented above. Weighted average yield excludes the effect of accretion of discounts and amortization of premiums.
(2)
Includes all private loan investments for which fair value is determined by the Adviser at least quarterly (with assistance, as applicable, from a third-party valuation firm, and subject to oversight by the Board). Figures are derived from the financial statements most recently obtained by the Adviser.
(3)
LTM EBITDA refers to adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) in accordance with the underlying governing documents, over the last twelve months as reported by respective borrowers. Excludes investments with no reported EBITDA or where EBITDA, in the Adviser’s judgment, was not a material component of the investment thesis, such as annual recurring revenue loans, or investments with negative EBITDA.
(4)
Net senior leverage is the ratio of total debt minus unrestricted cash divided by LTM EBITDA and taking into account leverage through the tranche in which the Company holds an investment, excluding recurring revenue loans. Weighted average net senior leverage is weighted based on the funded commitment of total applicable private loans.
(5)
LTV is calculated as net debt through each respective investment tranche in which the Company holds an investment divided by estimated enterprise value or value of the underlying collateral of the portfolio company, excluding recurring revenue loans. Weighted average LTV is weighted based on the funded commitment of the total applicable private loans.

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As part of the monitoring process, our Adviser has developed risk policies pursuant to which it regularly assesses the risk profile of each of our debt investments. Our Adviser has developed a classification system to group investments into five categories. The investments are evaluated regularly and assigned a category based on certain credit metrics. Our Adviser’s ratings do not constitute any rating of investments by a nationally recognized statistical rating organization or represent or reflect any third-party assessment of any of our investments. Please see below for a description of the five categories of the Adviser’s Internal Risk Rating system:

•
Internal Performance Rating A: Portfolio Companies performing generally as expected or above expectations and the trends and risk factors are generally neutral to favorable since origination. No concern about repayment of both interest and principal. All investments or acquired investments in new portfolio companies are initially assessed this level.
•
Internal Performance Rating B: Portfolio Companies performing generally as expected but the trends require increased monitoring. Portfolio companies are current on both interest and principal payments.
•
Internal Performance Rating C: Portfolio Companies performing below expectations and level of risk has increased since the time of origination. Portfolio companies are generally current on both interest and principal payments.
•
Internal Performance Rating D: Portfolio Companies performing materially below expectations and the level of risk has increased materially since origination. In addition to the borrower being generally out of compliance with original debt covenants, loan payments may be past due, but generally not by more than 120 days. There is a higher risk of both payment default and repayment of interest and principal in full.
•
Internal Performance Rating E: Portfolio Companies are non-earning and performing substantially below expectations. The level of risk has increased substantially since origination. Most or all of the original debt covenants are out of compliance and payments are substantially delinquent. There is a high risk that all principal and interest will not be recovered in full.

The following tables show the distribution of our investments on the A to E internal performance rating scale at fair value:

|  | September 30, 2025 |
Internal Performance Rating |  | Investments at Fair Value (in thousands) |  |  | % of Total Investments at Fair Value |  |  | Number of Portfolio Companies |
A |  | $ | 1,363,580 |  |  |  | 97.84 |  | % |  | 396 |
B |  |  | 12,438 |  |  |  | 0.89 |  |  |  | 20 |
C |  |  | 17,467 |  |  |  | 1.25 |  |  |  | 14 |
D |  |  | 273 |  |  |  | 0.02 |  |  |  | 2 |
E |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 1,393,758 |  |  |  | 100.00 |  | % |  | 432 |

|  | December 31, 2024 |
Internal Performance Rating |  | Investments at Fair Value (in thousands) |  |  | % of Total Investments at Fair Value |  |  | Number of Portfolio Companies |
A |  | $ | 844,820 |  |  |  | 99.59 |  | % |  | 340 |
B |  |  | 3,345 |  |  |  | 0.39 |  |  |  | 27 |
C |  |  | 195 |  |  |  | 0.02 |  |  |  | 1 |
D |  |  | — |  |  |  | — |  |  |  | — |
E |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 848,360 |  |  |  | 100.00 |  | % |  | 368 |

As of both September 30, 2025 and December 31, 2024 there were no portfolio companies with loans on non-accrual status.

The composition of our investment portfolio at amortized cost and fair value is as follows (dollar amounts in thousands):

|  | September 30, 2025 |  |  |  | December 31, 2024 |  |
|  | Amortized Cost |  |  | Fair Value |  |  | % of Total Investments at Fair Value |  |  |  | Amortized Cost |  |  | Fair Value |  |  | % of Total Investments at Fair Value |  |
Secured Debt |  | $ | 1,377,503 |  |  | $ | 1,374,990 |  |  |  | 96.64 |  | % |  | $ | 845,082 |  |  | $ | 843,710 |  |  |  | 99.45 |  | %
Unsecured Debt |  |  | 793 |  |  |  | 783 |  |  |  | 0.06 |  |  |  |  | 713 |  |  |  | 703 |  |  |  | 0.08 |  |
Equity Investments |  |  | 17,534 |  |  |  | 17,985 |  |  |  | 1.26 |  |  |  |  | 3,947 |  |  |  | 3,947 |  |  |  | 0.47 |  |
Short-Term Investments (1) |  |  | 29,010 |  |  |  | 29,010 |  |  |  | 2.04 |  |  |  |  | — |  |  |  | — |  |  |  | — |  |
Total Investments at fair value |  | $ | 1,424,840 |  |  | $ | 1,422,768 |  |  |  | 100.00 |  | % |  | $ | 849,742 |  |  | $ | 848,360 |  |  |  | 100.00 |  | %

(1)
As of June 30, 2025, the Company has made a prospective presentation change to reclassify money market fund investments as short-term investments. As of December 31, 2024, the amortized cost and fair value of money market investments held by the Company was $39.5 million.

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The industry composition of the Company's non-controlled, non-affiliated investments (at fair value) was as follows:

|  | September 30, 2025 |  |  |  | December 31, 2024 |  |
Aerospace and Defense |  |  | 0.61 |  | % |  |  | 0.43 |  | %
Air Freight and Logistics |  |  | 0.79 |  |  |  |  | 0.66 |  |
Automobile Components |  |  | 1.37 |  |  |  |  | 2.26 |  |
Beverages |  |  | 0.07 |  |  |  |  | — |  |
Building Products |  |  | 0.24 |  |  |  |  | 0.31 |  |
Capital Markets |  |  | 1.94 |  |  |  |  | 2.99 |  |
Chemicals |  |  | 3.91 |  |  |  |  | 2.23 |  |
Commercial Services and Supplies |  |  | 8.01 |  |  |  |  | 9.76 |  |
Construction & Engineering |  |  | 1.20 |  |  |  |  | 0.84 |  |
Construction Materials |  |  | 0.83 |  |  |  |  | 0.84 |  |
Containers and Packaging |  |  | 4.62 |  |  |  |  | 3.17 |  |
Distributors |  |  | 1.99 |  |  |  |  | 2.44 |  |
Diversified Consumer Services |  |  | 6.55 |  |  |  |  | 8.78 |  |
Diversified Telecommunication Services |  |  | 0.57 |  |  |  |  | 0.50 |  |
Electrical Equipment |  |  | 1.16 |  |  |  |  | 1.53 |  |
Electronic Equipment, Instruments and Components |  |  | 0.81 |  |  |  |  | 1.33 |  |
Energy Equipment and Services |  |  | 0.99 |  |  |  |  | 1.35 |  |
Financial Services |  |  | 6.66 |  |  |  |  | 4.39 |  |
Food Products |  |  | 1.39 |  |  |  |  | 0.91 |  |
Gas Utilities |  |  | 0.83 |  |  |  |  | — |  |
Ground Transportation |  |  | 0.01 |  |  |  |  | 0.02 |  |
Health Care Technology |  |  | 5.98 |  |  |  |  | 4.44 |  |
Healthcare Equipment and Supplies |  |  | 0.54 |  |  |  |  | 0.56 |  |
Healthcare Providers and Services |  |  | 7.41 |  |  |  |  | 5.54 |  |
Hotels, Restaurants and Leisure |  |  | 0.64 |  |  |  |  | 1.04 |  |
Household Durables |  |  | 0.01 |  |  |  |  | 0.02 |  |
Household Products |  |  | 0.75 |  |  |  |  | 0.33 |  |
Industrial Conglomerates |  |  | 1.10 |  |  |  |  | 0.96 |  |
Insurance |  |  | 6.21 |  |  |  |  | 7.32 |  |
IT Services |  |  | 3.25 |  |  |  |  | 4.23 |  |
Life Sciences Tools & Services |  |  | 0.67 |  |  |  |  | 0.94 |  |
Machinery |  |  | 1.32 |  |  |  |  | 0.99 |  |
Media |  |  | 0.50 |  |  |  |  | 2.18 |  |
Oil, Gas and Consumable Fuels |  |  | 0.63 |  |  |  |  | 1.30 |  |
Personal Care Products |  |  | 0.03 |  |  |  |  | 0.05 |  |
Pharmaceuticals |  |  | 2.14 |  |  |  |  | 1.77 |  |
Professional Services |  |  | 7.23 |  |  |  |  | 9.40 |  |
Real Estate Management and Development |  |  | 0.72 |  |  |  |  | 0.77 |  |
Software |  |  | 12.53 |  |  |  |  | 11.14 |  |
Specialty Retail |  |  | 0.49 |  |  |  |  | 0.02 |  |
Technology Hardware, Storage and Peripherals |  |  | 0.72 |  |  |  |  | 1.15 |  |
Textiles, Apparel and Luxury Goods |  |  | 0.65 |  |  |  |  | 0.25 |  |
Trading Companies and Distributors |  |  | 0.35 |  |  |  |  | 0.30 |  |
Transportation Infrastructure |  |  | 0.84 |  |  |  |  | 0.25 |  |
Wireless Telecommunication Services |  |  | 0.74 |  |  |  |  | 0.31 |  |
|  |  | 100.00 |  | % |  |  | 100.00 |  | %

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The tables below describe investments by geographic composition based on amortized cost and fair value (dollar amounts in thousands):

|  | September 30, 2025 |  |
|  | Amortized Cost |  |  | Fair Value |  |  | % of Total Investments at Fair Value |  |  | Fair Value as % of Net Assets |  |
United States |  | $ | 1,363,804 |  |  | $ | 1,361,612 |  |  |  | 97.69 |  | % |  | 193.63 |  | %
Canada |  |  | 32,026 |  |  |  | 32,146 |  |  |  | 2.31 |  |  |  | 4.57 |  |
Total |  | $ | 1,395,830 |  |  | $ | 1,393,758 |  |  |  | 100.00 |  | % |  | 198.20 |  | %

|  | December 31, 2024 |  |
|  | Amortized Cost |  |  | Fair Value |  |  | % of Total Investments at Fair Value |  |  | Fair Value as % of Net Assets |  |
United States |  | $ | 824,707 |  |  | $ | 823,915 |  |  |  | 97.12 |  | % |  | 129.25 |  | %
Canada |  |  | 17,851 |  |  |  | 17,375 |  |  |  | 2.05 |  |  |  | 2.73 |  |
United Kingdom |  |  | 7,184 |  |  |  | 7,070 |  |  |  | 0.83 |  |  |  | 1.11 |  |
Total |  | $ | 849,742 |  |  | $ | 848,360 |  |  |  | 100.00 |  | % |  | 133.09 |  | %

Results of Operations

Operating results for the three and nine months ended September 30, 2025 were as follows (table below in thousands):

| Three Months Ended September 30, 2025 |  |  | Nine Months Ended September 30, 2025 |
Total investment income | $ | 32,216 |  |  | $ | 85,055 |
Total expenses |  | 16,815 |  |  |  | 41,537 |
Management fees waiver |  | (1,005 | ) |  |  | (5,009 | )
Incentive fees waiver |  | (1,143 | ) |  |  | (5,811 | )
Reimbursable expenses paid by adviser |  | (35 | ) |  |  | (683 | )
Net expenses, net of fee waivers |  | 14,632 |  |  |  | 30,034 |
Net investment income (loss) |  | 17,584 |  |  |  | 55,021 |
Net realized gain (loss) |  | 154 |  |  |  | 947 |
Net change in unrealized appreciation (depreciation) |  | 101 |  |  |  | (2,822 | )
Net increase (decrease) in net assets resulting from operations | $ | 17,839 |  |  | $ | 53,146 |

Net increase (decrease) in net assets resulting from operations can vary from period to period as a result of various factors, including deployment, the level of new investment commitments, the recognition of realized gains and losses and changes in unrealized appreciation and depreciation on the investment portfolio. As a result, comparisons may not be meaningful.

As we commenced investment operations on November 5, 2024, there were no significant operations or results for both the three and nine months ended September 30, 2024.

Investment Income

Investment income, was as follows for the three and nine months ended September 30, 2025 (table below in thousands):

|  | Three Months Ended September 30, 2025 |  |  | Nine Months Ended September 30, 2025 |
Interest income |  | $ | 31,035 |  |  | $ | 80,732 |
Payment-in-kind interest income |  |  | 170 |  |  |  | 423 |
Dividend income |  |  | 220 |  |  |  | 539 |
Other income |  |  | 791 |  |  |  | 3,361 |
Total investment income |  | $ | 32,216 |  |  | $ | 85,055 |

For the three and nine months ended September 30, 2025, our total investment income was driven by our deployment of capital and increase in invested balance of investments quarter-over-quarter. The size of our investment portfolio at fair value increased from $1.2 billion as of June 30, 2025 to $1.4 billion as of September 30, 2025, which has increased the balance of interest-bearing securities quarter-over-quarter. The weighted average yield on debt and income producing investments, at fair value, decreased from 9.0% as of June 30, 2025 to 8.7% as of September 30, 2025, which is attributable to decreases in index rates and incremental increases to allocations of broadly syndicated loans.

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Interest income on our debt investments is dependent on interest rates and volume of loans outstanding, as well as the composition and credit quality of the portfolio. Generally, we expect the portfolio to generate predictable quarterly interest income based on the terms stated in each loan’s respective credit agreement.

Expenses

Expenses were as follows:

|  | Three Months Ended September 30, 2025 |  |  | Nine Months Ended September 30, 2025 |
Interest and debt expenses |  | $ | 10,779 |  |  | $ | 23,741 |
Management fees |  |  | 2,180 |  |  |  | 6,184 |
Income based incentive fee |  |  | 2,366 |  |  |  | 7,034 |
Administrative service fee |  |  | 190 |  |  |  | 522 |
Board of Trustees’ fee |  |  | 45 |  |  |  | 115 |
Other general and administrative expenses |  |  | 743 |  |  |  | 2,366 |
Organization and offering costs |  |  | 512 |  |  |  | 1,575 |
Total expenses |  |  | 16,815 |  |  |  | 41,537 |
Management fees waiver |  |  | (1,005 | ) |  |  | (5,009 | )
Incentive fees waiver |  |  | (1,143 | ) |  |  | (5,811 | )
Reimbursable expenses paid by adviser |  |  | (35 | ) |  |  | (683 | )
Net expenses, net of fee waivers |  | $ | 14,632 |  |  | $ | 30,034 |

Other general and administrative expenses include professional fees related to legal, audit, tax, valuation services, insurance, filing, research, subscriptions and other costs. Administrative service expenses represent fees paid to the Administrator for our allocable portion of the cost of certain of our executive officers that perform duties for us. Organization costs and offering costs include expenses incurred in our initial formation and our offering of Common Shares. See "Item 1. Consolidated Financial Statements—Notes to Consolidated Financial Statements—Note 3. Agreements and Related Party Transactions". The increase in gross management fees was driven by growth in the NAV of the fund. The decrease in gross incentive fees quarter-over-quarter is attributable to lower pre-incentive fee net investment income earned during the three months ended September 30, 2025 compared to the three months ended June 30, 2025, which itself is attributable to the end of the management fee waiver period and decreasing index rates.

Interest and Debt Expenses

The components of interest and debt expenses, cash paid for interest, annualized average interest rates and average outstanding balances were as follows:

|  | Three Months Ended September 30, 2025 |  |  | Nine Months Ended September 30, 2025 |
Stated interest expense |  | $ | 10,244 |  |  | $ | 22,379 |
Facility unused fees |  |  | 224 |  |  |  | 541 |
Amortization of deferred financing costs |  |  | 311 |  |  |  | 821 |
Total interest and debt expenses |  | $ | 10,779 |  |  | $ | 23,741 |
Cash paid for interest expense |  | $ | 10,260 |  |  | $ | 21,136 |
Weighted average interest rate |  |  | 6.10 | % |  |  | 6.11 | %
Average debt outstanding |  | $ | 657,315 |  |  | $ | 483,686 |

Interest expense for the three and nine months ended September 30, 2025 was driven by approximately $657.3 million and $483.7 million, respectively, of average borrowings outstanding (at an average effective interest rate, of 6.10% and 6.11%, respectively) related to borrowings for investments and expenses.

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Net Realized and Change in Unrealized Gains and Losses

The following table summarizes our net realized and unrealized gains (losses) (table below in thousands):

|  | Three Months Ended September 30, 2025 |  |  | Nine Months Ended September 30, 2025 |
Net realized gain (loss) on investments |  | $ | 1 |  |  | $ | (13 | )
Unrealized appreciation on investments |  |  | 3,550 |  |  |  | 4,725 |
Unrealized (depreciation) on investments |  |  | (3,799 | ) |  |  | (5,414 | )
Net change in unrealized appreciation (depreciation) on investments |  | $ | (249 | ) |  | $ | (689 | )

We determine the fair value of our investments quarterly and any changes in fair value are recorded as unrealized appreciation or depreciation. For the three and nine months ended September 30, 2025, net change in unrealized gains (losses) on our investments was ($0.2) million and ($0.7) million, respectively.

The valuations of our debt investments generally increase or decrease as a result of various factors, including tightening and widening credit spreads of public and private markets, changes in the credit quality of borrowers, as well as changes in transaction prices during the period.

Management fee

The base management fee is payable monthly in arrears at an annual rate of 1.25% of the Company’s NAV as of the beginning of the first business day of the month. For the three and nine months ended September 30, 2025, the Company incurred management fees of $2.2 million and $6.2 million, respectively, before impact of waived fees. For the three and nine months ended September 30, 2025, the Adviser elected to waive $1.0 million and $5.0 million, respectively, resulting in $1.2 million and $1.2 million in management fees net of waiver, respectively. For both the three and nine months ended September 30, 2024, the Company had not commenced operations and did not accrue any management fees.

Incentive fee

The incentive fee consists of two components that are independent of each other, with the result that one component may be payable even if the other is not. A portion of the incentive fee is based on a percentage of income and a portion is based on a percentage of capital gains, each described below.

Income based incentive fee

The income based incentive fee is based on “Pre-Incentive Fee Net Investment Income Returns” meaning dividends, cash interest or other distributions or other cash income and any third-party fees received from portfolio companies (such as upfront fees, commitment fees, origination fees, amendment fees, ticking fees and break-up fees, as well as prepayments premiums, but excluding fees for providing managerial assistance and fees earned by the Adviser or an affiliate in its capacity as an administrative agent, syndication agent, collateral agent, loan servicer or other similar capacity) accrued during the month, minus operating expenses for the month (including the management fee, taxes, any expenses payable under the Investment Advisory Agreement and Administration Agreement (as defined below), any expense of securitizations, and interest expense or other financing fees and any dividends paid on preferred shares, but excluding the incentive fee and shareholder servicing and /or distribution fees). Pre-Incentive Fee Net Investment Income Returns includes, in the case of investments with a deferred interest feature (such as original issue discount, debt instruments with PIK interest and zero-coupon securities), accrued income that has not yet been received in cash. Pre-Incentive Fee Net Investment Income Returns do not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation. The impact of expense support payments and recoupments are also excluded from Pre-Incentive Fee Net Investment Income Returns.

Pre-Incentive Fee Net Investment Income Returns, expressed as a rate of return on the value of net assets at the end of the preceding quarter, is compared to a “hurdle rate” of return of 1.50% per quarter (6.0% annualized). The Company pays an incentive fee quarterly as follows:

•
No investment income incentive fee based on Pre-Incentive Fee Net Investment Income Returns in any calendar quarter in which the Pre-Incentive Fee Net Investment Income Returns does not exceed the hurdle rate of 1.50% per quarter (6.0% annualized).
•
100% of the dollar amount of the Pre-Incentive Fee Net Investment Income Returns with respect to that portion of such Pre-Incentive Fee Net Investment Income Returns, if any, that exceeds the hurdle rate but is less than a rate of return of 1.71% (6.86% annualized).
•
12.5% of the dollar amount of the Pre-Incentive Fee Net Investment Income Returns, if any, that exceed a rate of return of 1.71% (6.86% annualized).

Capital gains incentive fee

The second component of the incentive fee, the capital gains incentive fee, is payable at the end of each calendar year in arrears. The amount payable is equal to 12.5% of cumulative realized capital gains from inception through the end of such calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid capital gains incentive fee as calculated in accordance with U.S. GAAP. U.S. GAAP requires that the capital gains incentive fee accrual consider the cumulative aggregate unrealized capital appreciation in the calculation, as a capital gains incentive fee would be payable if such unrealized capital appreciation were realized, even though such unrealized capital appreciation is not permitted to be considered in calculating the fee actually payable under the investment advisory agreement. This U.S. GAAP accrual is calculated using the aggregate cumulative realized capital gains and losses and aggregate cumulative unrealized capital

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depreciation included in the calculation of the capital gains incentive fee plus the aggregate cumulative unrealized capital appreciation, net of any expense associated with cumulative unrealized capital depreciation or appreciation. If such amount is positive at the end of a period, then U.S. GAAP requires the Company to record a capital gains incentive fee equal to 12.5% of such cumulative amount, less the aggregate amount of actual capital gains incentive fees paid or capital gains incentive fees accrued under U.S. GAAP in all prior periods. Gross capital gains incentive fee is net of reversal on accrued capital gains incentive fees.

For purposes of computing the Company’s investment income incentive fee and capital gains incentive fee, the calculation methodology looks through derivative financial instruments or swaps as if the Company owned the reference assets directly. The fees that are payable under the Investment Advisory Agreement for any partial period are appropriately prorated.

On October 31, 2024, the Company and the Adviser entered into a waiver letter agreement (the “Waiver Letter Agreement”), pursuant to which the Adviser agreed to irrevocably waive, which may be effected by a rebate or otherwise, (i) any base management fee due from the Company to the Adviser under Section 5(a) of the Investment Advisory Agreement and (ii) any incentive fee from the Company to the Adviser under Section 5(b) of the Investment Advisory Agreement for a six-month period following the effective date of the Company’s registration statement on Form N-2, which was declared effective on February 12, 2025.

For the three and nine months ended September 30, 2025, the Company incurred income based incentive fees of $2.4 million and $7.0 million, and did not incur any incentive fees on capital gains. For the three and nine months ended September 30, 2025, the Adviser agreed to waive $1.2 million and $5.8 million in total incentive fees, respectively, resulting in $1.2 million and $1.2 million incentive fees payable, respectively.

Expense Support Agreement

The Company has entered into an Expense Support and Conditional Reimbursement Agreement (the “Expense Support Agreement”) with the Adviser. Pursuant to the Expense Support Agreement, the Adviser is obligated to advance all of the Company’s Other Operating Expenses (defined below) (each, a “Required Expense Payment”) to the extent that such expenses do not exceed 1.00% (on an annualized basis) of the Company’s NAV. Any Required Expense Payment must be paid by the Adviser to the Company in any combination of cash or other immediately available funds and/or offset against amounts due from us to the Adviser or its affiliates. The Adviser may elect to pay certain additional expenses on the Company’s behalf (each, a “Voluntary Expense Payment” and together with a Required Expense Payment, the “Expense Payments”), provided that no portion of the payment will be used to pay any interest expense of the Company. Any Voluntary Expense Payment that the Adviser has committed to pay must be paid by the Adviser to the Company in any combination of cash or other immediately available funds no later than forty-five (45) days after such commitment was made in writing, and/or offset against amounts due from the Company to the Adviser or its affiliates. “Other Operating Expenses” means the Company’s total organization and offering expenses, professional fees, trustee fees, administration fees, and other general and administrative expenses (including the Company’s allocable portion of compensation (including salaries, bonuses and benefits), overhead (including rent, office equipment and utilities) and other expenses incurred by the Administrator in performing its administrative obligations under the Administration Agreement), excluding the Management Fee and Incentive Fee owed to the Adviser, financing fees and costs, brokerage commissions, placement agent fees, costs and expenses of distributing and placing the Common Shares, extraordinary expenses and any interest expenses owed by the Company, all as determined in accordance with U.S. GAAP.

Following any calendar month in which Available Operating Funds (as defined below) exceed the cumulative distributions accrued to the Company’s shareholders based on distributions declared with respect to record dates occurring in such calendar month (the amount of such excess being hereinafter referred to as “Excess Operating Funds”), we shall pay such Excess Operating Funds, or a portion thereof, to the Adviser until such time as all Expense Payments made by the Adviser to the Company within three years prior to the last business day of such calendar month have been reimbursed. Any payments required to be made by the Company shall be referred to herein as a “Reimbursement Payment.” “Available Operating Funds” means the sum of (i) our net investment company taxable income (including net short-term capital gains reduced by net long-term capital losses), (ii) our net capital gains (including the excess of net long-term capital gains over net short-term capital losses) and (iii) dividends and other distributions paid to us on account of investments in Portfolio Companies (to the extent such amounts listed in clause (iii) are not included under clauses (i) and (ii) above).

No Reimbursement Payment for any month shall be made if: (1) the Effective Rate of Distributions Per Share declared by the Company at the time of such Reimbursement Payment is less than the Effective Rate of Distributions Per Share at the time the Expense Payment was made to which such Reimbursement Payment relates, (2) the Company’s Operating Expense Ratio at the time of such Reimbursement Payment is greater than the Operating Expense Ratio at the time the Expense Payment was made to which such Reimbursement Payment relate, or (3) the Company’s Other Operating Expenses at the time of such Reimbursement Payment exceeds 1.00% of the Company’s NAV. “Effective Rate of Distributions Per Share” means the annualized rate (based on a 365 day year) of regular cash distributions per share exclusive of returns of capital, distribution rate reductions due to distribution and shareholder servicing fees, and declared special dividends or special distributions, if any. The “Operating Expense Ratio” is calculated by dividing Operating Expenses, less organizational and offering expenses, base management and incentive fees owed to the Adviser, shareholder servicing and/or distribution fees, and interest expense, by the Company’s net assets. “Operating Expenses” means all of the Company’s operating costs and expenses incurred, as determined in accordance with generally accepted accounting principles for investment companies.

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The Company’s obligation to make a Reimbursement Payment shall automatically become a liability of the Company on the last business day of the applicable calendar month, except to the extent the Adviser has waived its right to receive such payment for the applicable month.

In addition, effective October 31, 2024, the Company and the Adviser entered into a waiver letter agreement (the “Waiver Letter Agreement”), pursuant to which the Adviser agreed to waive any reimbursement by the Company for any of the Company’s organization expenses, operating expenses and offering expenses the Adviser incurs or has incurred on the Company’s behalf in an aggregate amount not to exceed $2 million. The Waiver Letter Agreement includes reimbursement provisions substantially similar to the reimbursement provisions included in the Expense Support Agreement.

For the nine months ended September 30, 2025 and 2024, the Company waived $0.7 million and $0.2 million, respectively, pursuant to the Expense Support Agreement which is included in the Consolidated Statements of Operations.

Financial Condition, Liquidity and Capital Resources

We expect to generate cash primarily from (i) the net proceeds of the Offering, (ii) cash flows from our operations, (iii) any financing arrangements we may enter into in the future and (iv) any future offerings of our equity or debt securities. We intend to sell our Common Shares on a continuous monthly basis at a per share price equal to the then-current NAV per share. Our primary uses of cash will be for (i) investments in Portfolio Companies and other investments, (ii) the cost of operations (including paying the Adviser (in its capacity as the Adviser and/or the Administrator)), (iii) cost of any borrowings or other financing arrangements and (iv) cash distributions to the holders of our shares.

As of September 30, 2025 we had one credit facility outstanding. From time to time, we may enter into additional credit facilities, increase the size of our existing credit facilities, enter additional short-term lending arrangements, and/or issue debt securities, including additional unsecured notes. In accordance with the 1940 Act, with certain limited exceptions, we are only allowed to incur borrowings, issue debt securities or issue preferred stock, if immediately after the borrowing or issuance, the ratio of total assets (less total liabilities other than indebtedness) to total indebtedness plus preferred stock, is at least 150%. As of September 30, 2025 we had an aggregate amount of $720.1 million of debt outstanding and our asset coverage ratio was 197.65%. We seek to carefully consider our unfunded commitments for the purpose of planning our ongoing financial leverage. We believe that our current cash and cash equivalents on hand, our short-term investments, our available borrowing capacity under our Revolving Credit Facility and our anticipated cash flows from operations will be adequate to meet our cash needs for our daily operations in the near term.

Equity

The following table summarizes transactions in Common Shares during the three and nine months ended September 30, 2025 (table below in thousands):

| Three Months Ended September 30, 2025 |  |  | Nine Months Ended September 30, 2025 |
| Shares |  |  | Amount |  |  | Shares |  |  | Amount |
Issuance of shares |  | 1,263,848 |  |  | $ | 31,882 |  |  |  | 2,470,603 |  |  | $ | 62,198 |
Reinvestment of distributions |  | 15,136 |  |  |  | 382 |  |  |  | 17,862 |  |  |  | 450 |
Net increase (decrease) |  | 1,278,984 |  |  | $ | 32,264 |  |  |  | 2,488,465 |  |  | $ | 62,648 |

Share Repurchase Program

The Company has commenced a share repurchase program in which the Company intends to repurchase, in each quarter, up to 5% of the Common Shares outstanding (either by number of Common Shares or aggregate NAV) as of the close of the previous calendar quarter. The Company’s Board of Trustees may amend, suspend or terminate the share repurchase program if it deems such action to be in the best interest of the Company and the best interest of the Company’s shareholders. As a result, share repurchases may not be available each quarter. The Company intends to conduct such repurchase offers in accordance with the requirements of Rule 13e-4 promulgated under the Exchange Act and the 1940 Act. All shares purchased pursuant to the terms of each tender offer will be retired and thereafter will be authorized and unissued shares.

Under the Company’s share repurchase program, to the extent the Company offers to repurchase shares in any particular quarter, the Company expects to repurchase shares pursuant to tender offers using a purchase price equal to the NAV per share as of the last calendar day of the applicable quarter, except that shares that have not been outstanding for at least one year will be repurchased at 98% of such NAV (an “Early Repurchase Deduction”). The one-year holding period is measured as of the subscription closing date immediately following the prospective repurchase date. The Early Repurchase Deduction may be waived, at the Company’s discretion, in the case of repurchase requests arising from the death, divorce or qualified disability of the holder. The Early Repurchase Deduction will be retained by the Company for the benefit of remaining shareholders across all shares.

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Distributions

We authorize and declare distribution amounts per share of Common Share payable monthly in arrears.

The following table presents distributions that were declared during the nine months ended September 30, 2025:

Declaration Date |  | Payment Date |  | Base Distribution Per Share (1) |  |  | Special Distribution Per Share (1) |  |  | Total Distribution Per Share (1) |  |  | Total Distribution Amount |
January 31, 2025 |  | February 28, 2025 |  | $ | 0.1912 |  |  | $ | 0.0159 |  |  | $ | 0.2071 |  |  | $ | 5,261 |
February 28, 2025 |  | March 31, 2025 |  |  | 0.1734 |  |  |  | 0.0193 |  |  |  | 0.1927 |  |  |  | 4,896 |
March 31, 2025 |  | April 30, 2025 |  |  | 0.1920 |  |  |  | 0.0213 |  |  |  | 0.2133 |  |  |  | 5,426 |
April 30, 2025 |  | May 30, 2025 |  |  | 0.1858 |  |  |  | 0.0258 |  |  |  | 0.2116 |  |  |  | 5,443 |
May 30, 2025 |  | June 30, 2025 |  |  | 0.1916 |  |  |  | 0.0266 |  |  |  | 0.2182 |  |  |  | 5,647 |
June 25, 2025 |  | July 31, 2025 |  |  | 0.1859 |  |  |  | 0.0258 |  |  |  | 0.2117 |  |  |  | 5,634 |
July 31, 2025 |  | August 29, 2025 |  |  | 0.1927 |  |  |  | 0.0268 |  |  |  | 0.2195 |  |  |  | 5,908 |
August 28, 2025 |  | September 29, 2025 |  |  | 0.1930 |  |  |  | 0.0268 |  |  |  | 0.2198 |  |  |  | 6,037 |
September 30, 2025 |  | October 30, 2025 |  |  | 0.1866 |  |  |  | 0.0207 |  |  |  | 0.2073 |  |  |  | 5,782 |
Total |  |  |  | $ | 1.6922 |  |  | $ | 0.2090 |  |  | $ | 1.9012 |  |  | $ | 50,034 |

(1)
Rounded to four decimal places.

Sources of distributions, other than net investment income and realized gains on a U.S. GAAP basis, include required adjustments to U.S. GAAP net investment income in the current period to determine taxable income available for distributions. The following table reflects the sources of cash distributions on a U.S. GAAP basis that we declared on our Common Shares during the nine months ended September 30, 2025:

Source of Distribution | Per Share |  |  | Amount |
Net investment income (loss) | $ | 2.09 |  |  | $ | 55,021 |
Total net realized gain (loss) |  | — |  |  |  | (13 | )
Total | $ | 2.09 |  |  | $ | 55,008 |

Distribution Reinvestment Plan

We have adopted a distribution reinvestment plan, pursuant to which we will reinvest all cash distributions declared on behalf of our shareholders who do not elect to receive their distributions in cash. As a result, if we declare a cash distribution, then shareholders who have not opted out of our distribution reinvestment plan will have their cash distributions automatically reinvested in additional shares, rather than receiving the cash distribution. Distributions on fractional shares will be credited to each participating shareholder’s account to three decimal places.

Related-Party Transactions

We have entered into a number of business relationships with affiliated or related parties, including the following:

•
the Investment Advisory Agreement;
•
the Administration Agreement; and
•
Expense Support and Conditional Reimbursement Agreement;

In addition to the aforementioned agreements, we, our Adviser and certain of our Adviser’s affiliates have been granted exemptive relief by the SEC to co-invest with other funds and accounts sponsored or managed by our Adviser or its affiliates in a manner consistent with our investment objective, positions, policies, strategies and restrictions as well as regulatory requirements and other pertinent factors. For additional information, see “Note 3. Agreements and Related Party Transactions” to the consolidated financial statements.

Recent Developments

Subscriptions

On October 1, 2025, the Company sold and issued 503,194 Class I shares for an aggregate consideration of approximately $12.7 million at a price of $25.21 per share. The Company received $9.4 million of net proceeds relating to the issuance of Class I shares for subscriptions effective November 1, 2025.

Critical Accounting Estimates

The preparation of the consolidated financial statements will require our management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Changes in the economic environment, financial markets and any other parameters used in determining such estimates could cause actual results to differ. In addition, our critical accounting estimates related to investments, fair value measurement, interest and dividends income recognition and income taxes are included in the notes to our consolidated financial statements.

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Contractual Obligations

The Company is required to report its investments for which current market values are not readily available at fair value. The Company values its investments in accordance with ASC 820, Fair Value Measurement, which defines fair value as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the applicable measurement date. ASC 820 prioritizes the use of observable market prices derived from such prices over entity-specific inputs. Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material.

We entered into the Investment Advisory Agreement with the Adviser to provide us with investment advisory services and the Administration Agreement with Antares Capital Credit Advisers LLC (in its capacity as the Administrator) to provide us with administrative services. Payments for investment advisory services under the Investment Advisory Agreements and reimbursements under the Administration Agreement are described in “Item 1. Business.”

We have established one or more credit facilities and may in the future establish additional credit facilities or enter into other financing arrangements to facilitate investments and the timely payment of our expenses. It is anticipated that any such credit facilities will bear interest at floating rates at to-be-determined spreads over SOFR (or other applicable reference rate). We cannot assure shareholders that we will be able to enter into a credit facility on favorable terms or at all. In connection with a credit facility or other borrowings, lenders may require us to pledge assets, commitments and/or drawdowns (and the ability to enforce the payment thereof and may ask to comply with positive or negative covenants that could have an effect on our operations).

Off-Balance Sheet Arrangements

Other than contractual commitments and other legal contingencies incurred in the normal course of our business, we do not have any off-balance sheet financings or liabilities.

Unfunded Commitments

The Company’s investment portfolio may contain revolving line of credit or delayed draw commitments, which require the Company to fund when requested by portfolio companies. As of September 30, 2025 and December 31, 2024, the Company had unfunded investment commitment in the aggregate par amount of $368.5 million and $291.0 million, respectively. Such commitments are subject to the satisfaction of certain conditions set forth in the documents governing these loans and letters of credit and there can be no assurance that such conditions will be satisfied.

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

We are subject to financial market risks, including changes in interest rates and foreign exchange rates. A rise in the general level of interest rates can be expected to lead to higher interest rates applicable to the variable rate investments we may hold and to declines in the value of any fixed rate investments we may hold. A rise in interest rates would also be expected to lead to higher cost on our floating rate borrowings. If deemed prudent, we may use interest rate risk management techniques in an effort to minimize our exposure to interest rate fluctuations. The Company seeks to mitigate interest rate risk and foreign currency risk by generally employing a funding strategy of matching the duration and interest rate indices of our floating rate assets with floating rate liabilities, as well as matching currencies between our borrowing and lending, to the extent possible.

Valuation Risk

We plan to invest primarily in illiquid debt securities of private companies. Most of our investments do not have a readily available market price, and we value these investments at fair value as determined in good faith pursuant to procedures adopted by, and under the oversight of, the Board in accordance with our valuation policy. There is no single standard for determining fair value in good faith. As a result, determining fair value requires that judgment be applied to the specific facts and circumstances of each portfolio investment while employing a consistently applied valuation process for the types of investments we make.

Interest Rate Risk

Interest rate sensitivity refers to the change in earnings that may result from changes in the level of interest rates. We intend to fund portions of our investments with borrowings, and at such time, our net investment income will be affected by the difference between the rate at which we invest and the rate at which we borrow. Accordingly, we cannot assure shareholders that a significant change in market interest rates will not have a material adverse effect on our net investment income.

As of September 30, 2025, 99.94% of our performing debt investments at fair value were at floating rates, which are generally SOFR based and typically have durations of one to three months after which they reset to current interest rates, and many of which are subject to certain floors. Our credit facility (i.e. the Morgan Stanley Facility) bears interest at a floating rate with a zero percent interest rate floor. Based on our Consolidated Statements of Assets and Liabilities as of September 30, 2025, the following table shows the annualized impact on net interest income of hypothetical base rate changes in interest rates (considering base rate floors and ceilings for floating rate instruments) and assuming no changes in our investment and borrowing structure (table below in thousands):

Change in Interest Rates |  | Interest Income |  |  | Interest Expense |  |  | Net Interest Income |
Up 300 basis points |  | $ | 41,778 |  |  | $ | (21,604 | ) |  | $ | 20,174 |
Up 200 basis points |  |  | 27,852 |  |  |  | (14,403 | ) |  |  | 13,449 |
Up 100 basis points |  |  | 13,926 |  |  |  | (7,201 | ) |  |  | 6,725 |
Down 100 basis points |  |  | (13,926 | ) |  |  | 7,201 |  |  |  | (6,725 | )
Down 200 basis points |  |  | (27,710 | ) |  |  | 14,403 |  |  |  | (13,307 | )
Down 300 basis points |  |  | (41,124 | ) |  |  | 21,604 |  |  |  | (19,520 | )

We may in the future hedge against interest rate fluctuations by using hedging instruments such as additional interest rate swaps, futures, options and forward contracts. While hedging activities may mitigate our exposure to adverse fluctuations in interest rates, certain hedging transactions that we may enter into in the future, such as interest rate swap agreements, may also limit our ability to participate in the benefits of changes in interest rates with respect to our portfolio investments.

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Item 4. Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures

In accordance with Rules 13a-15(b) and 15d-15(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), we, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, carried out an evaluation of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) of the Exchange Act) as of the end of the period covered by this Quarterly Report on Form 10-Q and determined that our disclosure controls and procedures are effective as of the end of the period covered by the Quarterly Report on Form 10-Q.

(b) Changes in Internal Controls Over Financial Reporting

There have been no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the quarter ended September 30, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

We are not currently subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against us. From time to time, we may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with our portfolio companies. Our business is also subject to extensive regulation, which may result in regulatory proceedings against us. While the outcome of any such future legal or regulatory proceedings cannot be predicted with certainty, we do not expect that any such future proceedings will have a material effect upon our financial condition or results of operations.

Item 1A. Risk Factors.

For information regarding factors that could affect our results of operations, financial condition and liquidity, see risk factors disclosed in “Item 1A Risk Factors” of our Annual Report on Form 10-K, filed with the SEC on March 18, 2025 and in “Item 1A. Risk Factors” of our Quarterly Reports on Form 10-Q, filed with the SEC on May 14, 2025 and August 13, 2025. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially affect our business, financial condition and/or operating results. Except as set forth below, there have been no material changes during the three months ended September 30, 2025 to the risk factors set forth in “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2024 and in “Item 1A. Risk Factors” of our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

Except as described and as previously reported on our current reports on Form 8-K, we did not sell any securities during the period covered by this Quarterly Report on Form 10-Q that were not registered under the Securities Act.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

None.

Item 5. Other Information.

None.

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Item 6. Exhibits

Exhibit Number |  | Description of Exhibits
31.1 |  | Certification of Principal Executive Officer Pursuant to Rule 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.*
31.2 |  | Certification of Principal Financial Officer Pursuant to Rule 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.*
32.1 |  | Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
32.2 |  | Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
101.INS |  | Inline XBRL Instance Document
101.PRE |  | Inline XBRL Taxonomy Extension Schema With Embedded Linkbase Documents
104 |  | Cover Page formatted as Inline XBRL and contained in Exhibit 101

* Filed herewith.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Antares Private Credit Fund

Date: | November 13, 2025 |  | /s/ Vivek Mathew
|  |  | Vivek Mathew
|  |  | Chief Executive Officer
Date: | November 13, 2025 |  | /s/ Monica Kelsey
|  |  | Monica Kelsey
|  |  | Chief Financial Officer

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