On this page you will find coverage of this year’s PDI 50, Private Debt Investor’s annual ranking of the leading fundraisers in private debt based on a rolling five-year period. To provide a first look at absolute and relative performance, we utilize the Burgiss database of 476 private credit funds with nearly $480 billion in committed capital, including a subset of 155 direct lending funds. Decades of proprietary data and deep analysis informs our decisions. A fund may employ leverage and other investment techniques, and such leverage and other investment techniques may result in increased volatility of the fund’s performance and increased risk of loss. Virtus Private Credit ETF VPC Morningstar Analyst Rating Quantitative rating as of Dec 31, 2020. KKR's credit platform offers diversified global investment strategies, representing a wide range of risk/return and liquidity profiles. Roughly US$107bn of new capital was raised by private debt funds in 2017 globally, of which US$67bn was raised by funds in the US, US$33bn by funds in Europe, and USD$6bn by funds in Asia5. Pack has 20 years of credit investment and workout experience through multiple credit cycles. Private Equity Program Fund Performance Review As of March 31, 2020, the since … ): DE310268813 | Registered office (Sitz der Gesellschaft): Munich, Germany | Commercial register (Handelsregister): HRB 228324, Local court (Amtsgericht) of Munich | Representative: Managing Director Martin vom Hagen | Supervisory authority: German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin), 60439 Frankfurt am Main, Germany, www.bafin.de. 1. Quote Fund Analysis Performance Risk Price Portfolio Parent All … We seek uncommon opportunities through diverse strategies designed to generate a range of returns. Chris Lyons is the head of the private credit group where he is responsible for the sourcing, underwriting and management of all private debt securities Voya Investment Management invests on behalf of its clients. Pack has analyzed, structured and negotiated hundreds of lending, structured equity and real estate transactions. Chris has focused exclusively on the private debt markets for the firm since 1993, originally joining the team at the analyst level. The fund relies on other parties to fulfill certain services, investments or transactions. Private funds are pooled investment vehicles that are excluded from the definition of investment company under the Investment Company Act of 1940 by section 3(c)(1) or 3(c)(7) of that Act. Drawing on 45+ years of private markets experience, proprietary intelligence, and trusted relationships, Adams Street strives to generate actionable investment insights across market cycles. New Jersey’s $83 billion pension fund is eyeing further investments in private equity and credit to boost performance. To provide a first look at absolute and relative performance, we utilize the Burgiss database of institutional quality private credit funds. Although private credit funds have rapidly grown into a standalone asset class over the last decade, little is known about the aggregate performance of these funds. Elsewhere – particularly Germany and the Nordics – banks still dominate the lending market for historic and/or regulatory reasons. We review the recent trends within private credit, provide an overview of various strategies, describe returns since 2004 and compare private credit to several benchmark indices in order to develop a preliminary view of performance and risk across various private credit strategies. Hedge Fund Performance Update: November 2020 Market optimism due to successful vaccine trials fueled gains of 7.45%. Direct lending funds have relatively low beta and positive alpha … Fund gives investors access to professionally managed, diversified portfolio of private loans, providing low correlation to traditional asset classes and public markets. This risk is higher where the fund invests in a bond with a lower credit rating. Link: Performance of Private Credit Funds, Unlocking the potential of private capital data for thoughtful investors, Burgiss Private Capital Classification System. Private Credit Investors. Adams Street (Europe) GmbH | Legal form: Gesellschaft mit beschränkter Haftung (GmbH) | VAT identification number (Ust.-ID-Nr. For information on our Private Credit Funds, contact: R. Sean Duff Managing Director, Marketing & Investor Relations 312-523-2372 sduff@monroecap.com Jon Olstein Managing Director, Marketing 646-454-2659 jolstein@monroecap.com Since joining the Credit Funds Business at its inception in 2002, Mr. Credit exposure can be either corporate (repayment comes from cash flows generated by an operating company) or asset (repayment comes from cash flows generated by a physical or esoteric asset). We seek to integrate our clients’ strategic goals into actionable solutions. This pushed the 2020 YTD return to +13.27% and the 12-month return to +15.19% PDI 50: Showcasing the world’s largest private debt firms. Northleaf Capital Partners is a global private markets investment firm with top-tier capabilities across private equity, private credit and private infrastructure. Mr. To achieve its objective, the fund looks to allocate across a wide array of global credit sectors, including corporate, mortgage, consumer emerging market, and municipal credit markets, and has the flexibility to invest in both public and private credit sectors. We provide flexible financing solutions to corporate borrowers and manage capital for a diversified group of institutional and high net worth investors. NINEPOINT-TEC PRIVATE CREDIT FUND Performance as of December 31, 2020 MANAGER Ninepoint Partners LP SUB-ADVISOR Third Eye Capital Management Inc. • Led by Arif Bhalwani, Third Eye Capital was founded in 2005 and is one of Canada's leading alternative capital providers. AB Private Credit Investors is the middle market direct lending platform of AllianceBernstein. Apollo takes the same rigorous, value-driven approach to credit investing as we do in private equity and real assets. Private credit can also be referred to as "direct lending" or "private lending". Performance data for funds with less than one year's track record is not shown. Cambridge Associates (CA) has decided to (1) adopt distribution and commercial policies that are more in line with other performance/index data providers, and (2) partner with IHS Markit, a world leader in critical information, analytics, and solutions, to leverage their global financial markets data and index distribution platform. Adams Street Partners UK LLP is authorized and regulated by the UK Financial Conduct Authority. A fund may employ leverage and other investment techniques, and such leverage and other investment techniques may result in increased volatility of the fund’s performance and increased risk of loss. It’s a story of continuing investor hunger for the asset class, despite the challenges of covid-19, as the aggregate total climbs to new heights. Private credit fund managers, on the other hand, particularly funds that pursue capital gains strategies and have shorter investment periods than private equity funds, are more commonly provided with greater flexibility to reinvest and are often permitted to recycle both the principal and any profits or income from an investment during the investment period. Strategies included under the private credit umbrella can generally be categoriz… The leverage loan index provides the best fit as a benchmark across most private credit strategies. Performance is calculated net of fees. We help Entrepreneurs and CEOs seeking to build market-leading companies with our founder-first approach, value-added services, and global presence. Just in 2017, private debt fundraising exceeded $100B. It is a subset of "alternative credit". Measures of relative performance suggest private credit funds have performed about as well as or better than leveraged loan, high-yield and business … TVPI can be calculated for a … To provide a first look at absolute and relative performance, we utilize the Burgiss database of institutional quality private credit funds. Private Credit Our Private Credit strategies provide access to investment opportunities through a value-oriented approach that seeks attractive risk-adjusted returns and … Measures of absolute performance reveal IRRs that are positive for the top three quartiles across all strategies. Pack is also the Co-CIO of Credit & Lending Funds at Fortress. Measures of relative performance (PMEs) suggest that private credit funds have performed about as well, or better than, leveraged-loan, high-yield and BDC indexes. IRR reflects the performance of a private equity fund by taking into account the size and timing of its cash flows (capital calls and distributions) and its net asset value at the time of the calculation. A fund may trade in commodities, futures and other derivatives, which may increase the risk of loss of the fund. Private market assets under management (AUM) grew by 10 percent in 2019, and $4 trillion in the past decade, an increase of 170 percent (Exhibit 1), while the number of active private equity (PE) firms has more than doubled and the number of US sponsor-backed companies has increased by 60 percent. An important performance metric is total value to paid in (TVPI), or the ratio of the amount distributed to the investors plus the net asset value of the fund at the measurement date to the amount of invested capital. Performance of Private Credit Funds: A First Look. Aiming to maximize results relative to the level of risk undertaken. 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