v3.24.3
Shareholders’ Equity
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Shareholders’ Equity Shareholders’ Equity
The following table is a summary of share activity during the three months ended September 30, 2024 and shares outstanding as of that date:

Shares
Outstanding as of June 30, 2024		Shares Issued During the PeriodShares Repurchased During the PeriodTransfers In During the PeriodTransfers Out During the Period
Shares
Outstanding as of
 September 30, 2024
Class I Shares12,209 914 — — — 13,123 
Class U Shares110,734 16,200 — — — 126,934 
Class R-D Shares2,796,988 5,234,893 — — (6,387)8,025,494 
Class R-I Shares33,302,088 6,640,650 — 22,572 — 39,965,310 
Class R-U Shares63,960,210 13,085,382 (25,246)— (16,344)77,004,002 
Class F Shares5,657 4,742 — — — 10,399 
Class G Shares40 — — — — 40 
Class H Shares40 — — — — 40 
Total100,187,966 24,982,781 (25,246)22,572 (22,731)125,145,342 


The following table is a summary of share activity during the nine months ended September 30, 2024 and shares outstanding as of that date:

Shares
Outstanding as of December 31, 2023
Shares Issued During the PeriodShares Repurchased During the PeriodTransfers In During the PeriodTransfers Out During the Period
Shares
Outstanding as of September 30, 2024
Class I Shares69,695 13,653 — — (70,225)13,123 
Class U Shares— 126,934 — — — 126,934 
Class R-D Shares— 8,037,638 — — (12,144)8,025,494 
Class R-I Shares4,452,158 35,313,662 (2,871)202,361 — 39,965,310 
Class R-U Shares22,941,060 54,219,804 (36,083)— (120,779)77,004,002 
Class F Shares1,967 8,432 — — — 10,399 
Class G Shares40 — — — — 40 
Class H Shares40 — — — — 40 
Total27,464,960 97,720,123 (38,954)202,361 (203,148)125,145,342 
The following table is a summary of share activity during the nine months ended September 30, 2023 and shares outstanding as of September 30, 2023:

Shares Outstanding as of December 31, 2022Shares Issued During the PeriodShares Repurchased During the Period
Shares Outstanding as of September 30, 2023
Class I Shares— 65,811 — 65,811 
Class R-I Shares— 1,438,086 — 1,438,086 
Class R-U Shares— 11,982,497 — 11,982,497 
Class E Shares— 4,314,539 (4,314,539)— 
Class G Shares40 — — 40 
Class H Shares— 40 — 40 
Total40 17,800,973 (4,314,539)13,486,474 

Distribution Reinvestment Plan

The Company adopted a Distribution Reinvestment Plan (the “DRIP”) in which cash distributions to holders of our Shares will automatically be reinvested in additional whole and fractional Shares attributable to the class of Shares that a Shareholder owns unless such holders elect to receive distributions in cash. Shareholders may terminate their participation in the DRIP with prior written notice to us. Under the DRIP, Shareholders’ distributions are reinvested in Shares of the same class owned by the Shareholder for a purchase price equal to the most recently available Transactional Net Asset Value per Share. Shareholders will not pay a sales load when purchasing Shares under our DRIP; however, Class S Shares, Class D Shares, Class U Shares, Class R-S Shares, Class R-D Shares and Class R-U Shares, including those purchased under our DRIP, will be subject to applicable ongoing distribution and/or shareholder servicing fees.

As of September 30, 2024 and December 31, 2023, the Company has not issued any Shares under the DRIP.

Share Repurchases

The Company offers a share repurchase plan pursuant to which, on a quarterly basis, Shareholders may request that we repurchase all or any portion of their Shares. The Company may repurchase fewer Shares than have been requested in any particular quarter to be repurchased under our share repurchase plan, or none at all, in our discretion at any time. In addition, the aggregate NAV of total repurchases of Class S Shares, Class D Shares, Class U Shares, Class I Shares, Class R-S Shares, Class R-D Shares, Class R-U Shares, Class R-I Shares or Class F Shares under our share repurchase plan will be limited to no more than 5% of our aggregate NAV attributable to such classes of Shares per calendar quarter (measured using the average aggregate NAV attributable to Shareholders as of the end of the immediately preceding calendar quarter).
The following table summarizes the Shares repurchased during the nine months ended September 30, 2024:

Share ClassRepurchase Price per ShareNumber of Shares RepurchasedGross Consideration
5% Early Repurchase Fee
Net Consideration
Shares repurchased on May 6, 2024:
Class R-I Shares$26.12 2,871 $75 $6 $69 
Class R-U Shares25.97 10,837 281 11 270 
Shares repurchased on August 5, 2024:
Class R-U Shares27.07 25,246 684 34 650 
Total38,954 $1,040 $51 $989 
Repurchase Arrangement for Class E Shares held by KKR

On August 31, 2023, pursuant to the Company's KKR Share Repurchase Arrangement, effective July 27, 2023 (the “KKR Share Repurchase Arrangement”), the Company repurchased the outstanding Class E Shares of the Company from KKR Alternative Assets LLC for an aggregate purchase price of $107,863. As of both September 30, 2024 and December 31, 2023, no Class E Shares were outstanding.

No shares were repurchased by the Company, pursuant to the KKR Share Repurchase Arrangement, during the three and nine months ended September 30, 2024.
Distributions
The Company did not declare or pay any distributions during the three and nine months ended September 30, 2024.