| Related Parties Fees and Expenses Incurred |
The following table summarizes the related parties fees and expenses incurred by the Company for the three and nine months ended September 30, 2025 and 2024.
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For the Three Months Ended |
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For the Nine Months Ended |
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September 30, 2025 |
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September 30, 2024 |
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September 30, 2025 |
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September 30, 2024 |
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Affiliate Payments |
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Income-based incentive fees |
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$ |
2,347,473 |
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$ |
- |
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$ |
6,232,387 |
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$ |
328,503 |
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Management fee |
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1,399,845 |
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253,421 |
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4,006,051 |
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745,876 |
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Capital gains incentive fees |
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(131,412 |
) |
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(35,904 |
) |
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45,707 |
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|
37,465 |
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Total management and incentive fees earned |
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3,615,906 |
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217,517 |
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10,284,145 |
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1,111,844 |
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General and administrative expenses |
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1,082,419 |
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- |
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3,423,679 |
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- |
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Expense limitation agreement |
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(230,419 |
) |
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- |
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(1,338,202 |
) |
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- |
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General and administrative expenses waiver |
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- |
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- |
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(658,477 |
) |
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- |
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General and administrative expenses reimbursable to the Adviser |
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852,000 |
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- |
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1,427,000 |
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- |
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Total affiliate payments |
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$ |
4,467,906 |
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$ |
217,517 |
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$ |
11,711,145 |
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$ |
1,111,844 |
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